JUDGMENT

Lim Beng Choon J:

This is an application by the plaintiff bank for an order that the defendant company do show cause why the land held under Geran 30088 Lot No. 452 Mukim of Hulu Kelang, District of Gombak (hereinafter referred to as "the charged land") registered in the name of the defendant company and charged to the plaintiff bank should not be sold by public auction under the direction of this Court for the recovery of the sum RM15,477,187.99 only being principal, interest and other dues on the said charge as at 8 January 1988. In the supporting affidavit affirmed by the assistant general manager of the plaintiff bank on 2 March 1988 it was stated inter alia that the charge was executed by the defendant company in favour of the plaintiff bank to secure the repayment of monies up to the sum of RM12 million only advanced as secured loan to one Dato' Seri Mohd. Adib bin Mohd. Adam (hereinafter referred to as "the borrower") with interest at the rate of 15% per annum on monthly rests payable on demand. As at 8 January 1988 the borrower was indebted to the plaintiff bank in the sum of RM15,477,187.99 together with interest thereon at the rate of 15% per annum on monthly res