Mohamed Dzaiddin Abdullah FCJ:

[2] Nadchatiram Realities (1960) Sdn Bhd (the company) was a family company incorporated under the repealed Companies Ordinances 1940-46 on 10 November 1960. The shareholders of the company comprised members of the Nadchatiram family of Seremban, most of whom are lawyers. As a result of non-payment of income tax, a winding-up petition vide Seremban High Court Companies Winding-Up no: 28 February 1988 was presented by the Department of Inland Revenue on behalf of the Government of Malaysia against the company on 30 April 1988. On 5 September 1989, the Court granted the order and thereafter the company was placed under the supervision of the official receiver who was appointed as the liquidator. The company's liabilities were estimated at RM1.03 million, although the assets were worth more than RM20 million. Hence, the company was still a solvent company.

[3] It should be noted that after the company was wound up by the Court, several actions were commenced in the Seremban