JUDGMENT

Gopal Sri Ram JCA:

There are three appeals before us. They are civil appeal Nos. W-02-845-02 ("the first appeal"), W-04-151-02 ("the second appeal") and W-02-231-03 ("the third appeal"). The appellant in the first and second appeals is Rekapacific Berhad ("Rekapacific) while the Securities Commission and the Kuala Lumpur Stock Exchange are the respondents. In the third appeal, it is the Stock Exchange which is the appellant while Rekapacific is the respondent. The facts relevant to all these appeals are as follows.

Rekapacific is a public listed company. It was de-listed by the Stock Exchange for alleged breaches of listing rules. It appealed unsuccessfully to the Committee of the Stock Exchange. It also lodged a parallel appeal to the Securities Commission. But that appeal was not considered as the Commission left the matter to be dealt with by the Exchange. Rekapacific then took out an application for judicial review. Several voluminous affidavits were delivered by the parties. Then, in the course of those proceedings it applied for discovery of documents and later to interrogate the respondents and to cross-examine Md Nor Ahmad, the deponent of an affidavit delivered