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INTER CITY SERVICES & TRAVEL Sdn Bhd
Organisation 1 case
About INTER CITY SERVICES & TRAVEL Sdn Bhd
INTER CITY SERVICES & TRAVEL Sdn Bhd appears as a party in 1 judgment in the MY Case Law database, spanning March 2025 to March 2025. INTER CITY SERVICES & TRAVEL Sdn Bhd appeared as defendant in 1 case. Cases span the High Court (1).
How many court cases involve INTER CITY SERVICES & TRAVEL Sdn Bhd?
INTER CITY SERVICES & TRAVEL Sdn Bhd appears in 1 published judgment from March 2025 to March 2025. Most commonly as defendant (1 cases).
Practice Areas
Abstract and Keywords 1 Abstract 1 This case involved eleven investment agreements of RM2.2 million between family members and the company, where plaintiffs claimed fraudulent misrepresentation regarding non-existent projects. The defendants argued the agreements were disguised moneylending transactions contravening the Moneylenders Act 1951. In applying the principles in Triple Zest Trading & Suppliers v Applied Business Technologies Sdn Bhd, it was found that the agreements constituted illegal moneylending due to their characteristics of fixed 30% returns regardless of business performance, systematic lending patterns and identical structures across multiple transactions. The S 100A presumption that the plaintiffs were engaged in unlicensed moneylending remains unrebutted, rendering the agreements void ab initio and unenforceable under S 15. ________________________________________ Keywords 1 Moneylenders Act 1951; illegal moneylending; disguised loan agreements; investment agreements; statutory presumption; Section 100A MLA 1951; void ab initio; Triple Zest Trading; fraudulent misrepresentation; unjust enrichment; sham agreements; unlicensed moneylenders; fixed returns; systematic lending; rebuttable presumption 1