Companies Commission of Malaysia (SSM) prosecuting officer Iqbal Yusof told the court that the lawyer representing FGP Ventures Sdn Bhd and its director, Khemlani Satesh, 63, had submitted the representation to the prosecution on Jan 9.

“Therefore, the prosecution requests a one-month period for this representation to be brought to the deputy public prosecutor for a decision. We have also submitted documents related to the case to the defence under Section 51A of the Criminal Procedure Code,” he said during the case mention before sessions court judge Norina Zainol Abidin.

Lawyer Hasif Ghazali, representing the company and Khemlani, confirmed the matter.

The court set Feb 7 for the decision on the representation.

According to the first and second charges, FGP Ventures and Khemlani are accused of offering the company’s shares, known as iRPS, to the public, which is prohibited, at the business premises in Wisma UOA Damansara II, Changkat Semantan, Damansara Heights, here between Aug 30, 2020, and Aug 29, 2021.

The charges were framed under Section 43(1) of the Companies Act 2016 and punishable under Section 43(5), which carries a prison sentence not exceeding five years, or a maximum fine of RM3 million or both, upon conviction.

FGP Ventures and Khemlani are also facing two charges of accumulating company preference shares without having a company constitution.

These charges are framed under Section 90(4) of the Companies Act and punishable under Section 90(5), which provides for a fine of up to RM500,000.