Judgment

Abdul Malik Ishak J:

Introduction

This was the defendant's appeal by way of a notice of motion in encl. 10 against the whole of the decision of the learned senior assistant registrar ("SAR"). The appeal by the defendant was against the order for final judgment. I heard the submissions of the parties and I allowed the defendant's appeal in encl. 10 with costs. The defendant then withdrew encl. 14 which was the defendant's application for stay pending the disposal of the appeal in encl. 10. The plaintiff had no objection to the withdrawal of encl. 14 and I, accordingly, struck off encl. 14 without costs.

My reasons for allowing the defendant's appeal in encl. 10 with costs are as follows:

The Plaintiff's Claim

By way of encl. 4, the plaintiff's claim against the defendant was for the sum of RM12,936,730.74 as at 31 March 2001 together with interests and costs. The plaintiff's claim was for monies, allegedly due, by the defendant under four separate overdraft facilities. The details of the overdraft facilities may be stated as follows:

(a) an overdraft dated 6 July 1995 for RM500,000 (hereinafter referred to as"OD1");

(b) an overdraft dated 13 March 1996 for RM5.25 million