JUDGMENT

Edgar Joseph Jr FCJ:

The appellant ('the Borrower Company') is the registered proprietor of certain lands comprised in HS(D) 11017 PTD 12680 ke HS(D) 11025 PTD 12688, HS(D) 11026 PTD 12690 ke HS(D) 11323 PTD 12987, HS(D) 11324 PTD 12989 ke HS(D) 11340 PTD 13005 in the Mukim Simpang Kanan in the District Batu Pahat, Johor ('the lands').

In September of 1980, the Borrower Company executed a first legal charge under the National Land Code 1965, ('the Code') over the lands in favour of Bank Bumiputra Bhd., the first respondent, ('the Bank') to secure banking facilities granted to the Borrower Company, bearing presentation No. 17837/ 80 Volume 756 Folio 29 and registered on 18 September 1980 ('the First Statutory Charge').

Similarly, in June 1985, the Borrower Company executed a second legal charge under the Code over some of the lands, namely, HS(D) 11325 PTD No. 12990 to HS(D) 11340 PTD No. 13005, in favour of the Bank to secure banking facilities granted to the Borrower Company, bearing presentation No. 6658/85 Volume 1376 Folio 82, and registered on 30 June 1985 ('the Second Statutory Charge').

The First and the Second Statutory Charges were duly registered under s. 108