[1] Enclosure 62 is the plaintiff's application for security for costs from the 1st defendant pursuant to s. 351 of the Companies Act 1965 . The plaintiff prays for the following orders:

1) that the 1st defendant pays RM250,000 as security for costs within seven days from the date of the order of the court;

2) that all proceedings in this suit is stayed pending the payment of the security for costs; and

3) in the event the security for costs is not paid the defence and counter claim dated 20 September 2010 is dismissed/struck out with no order as to cost.

[2] The application is supported by an affidavit in support affirmed on 27 October 2010.

[3] Grounds For The Application

i. The 1st defendant was wound up by an order dated 4 February 2010;

ii. The 1st defendant's liabili