Serba Dinamik, an integrated oil and gas services provider, filed the originating summons and injunction application on Nov 3 and 5 respectively, naming Bursa Malaysia and E&Y as the defendants.
Counsel Mohamed Izzul Faris, who represented Serba Dinamik, said Judge Ahmad Fairuz Zainol Abidin granted the company’s application to adjourn the hearing of both applications (originating summons and injunction) to enable it to file an affidavit-in-reply against the one filed by Bursa Malaysia and E&Y.
“However, the court rejected our application to obtain the ad interim injunction. The court ordered us to file an affidavit-in-reply within a week from today and set Dec 8 for the hearing of the two applications,” he said when contacted by reporters after the online proceedings today.
Also attending the proceedings were lawyers Loh Siew Cheang for Bursa Malaysia and Gopal Sreenevasan for E&Y.
The ad interim injunction serves to temporarily protect the plaintiff who filed the application to preserve the status quo, pending the hearing of the interim injunction.
In its originating summons application, Serba Dinamik, among others, is seeking a declaration that the instructions it received from Bursa Malaysia dated June 28, 2021 and July 2, 2021 to appoint E&Y as a special auditor to conduct a special independent review pursuant to paragraphs 2.23 and 2.24 of the Main Market Listing Requirements (MMLR) was in excess of power, null and void and of no effect.
The plaintiff is also seeking an order to restrain the defendants from making any announcement or otherwise publish, distribute or make available to anyone the factual findings update prepared by E&Y pending final disposal of the originating summons.
In addition, Serba Dinamik is also seeking damages against Bursa.
Serba Dinamik has also filed an originating summons against E&Y seeking relief and a declaration that E&Y was not an ‘auditor’ within the definition of MMLR as well as a declaration that E&Y had misrepresented to Serba Dinamik that they could be appointed pursuant to paragraphs 2.23 and 2.24 of the MMLR.
Serba Dinamik is further seeking interim injunctive relief against E&Y pending the full and final disposal of the originating summons to restrain E&Y from releasing, revealing, divulging and/or disseminating any findings, report, memorandum, opinion about Serba Dinamik and its group of companies.