JUDGMENT

Wan Yahya bin Pawan Teh SCJ:

In the High Court in Muar, the 1st respondent, Siland Sendirian Berhad (hereinafter referred as 'the chargor') successfully applied for and obtained a decree annulling the earlier order for sale made by the SAR, forfeiture of the deposit and other consequential reliefs in respect of an auction sale of its land initiated by the 2nd respondent, Eu Finance Berhad (the chargee). The present appeal against the High Court's decision was brought by the 1st appellant, M & J Frozen Food Sdn. Bhd. (the purchaser). The 2nd respondent, Mohd Kepol bin Bidin (the auctioneer) had since passed away and the chargee, perhaps on realising that his redemptive objective would be better served by the High Court's judgment, elected to abandon the appeal.

To ensure a prescriptive appreciation of this case some antecedent events leading to the present appeal are set out in detail: Siland, the chargor at the commencement of the suit at Muar, was the registered owner of all that piece of land held under H.S. (D) 40269, Lot No. PTD 18279, in the Mukim of Plentong, in the District of Johor Bahru, the subject matter of these proceedings (the said property).

The said propert