SRC obtains Mareva injunction against Najib for RM42 million

KUALA LUMPUR: SRC International Sdn Bhd and one of its subsidiaries have obtained a Mareva injunction from the High Court here to prevent former prime minister Datuk Seri Najib Tun Razak from transferring or dissipating of any his assets amounting to RM42 million.

The decision was made by Judicial Commissioner (JC) Datuk Mohd Arief Emran Arifin in an online proceeding today after allowing the application by SRC and Gandingan Mentari Sdn Bhd which were the first and second plaintiffs in SRC's suit against Najib as defendant.

A Mareva injunction is a temporary order which restrains the defendant from disposing of assets until the determination of the case between the plaintiff and the defendant.

The court directed that Najib, 69, must not remove, dispose of, deal with or diminish the value of any of their assets in and outside of Malaysia up to the value of RM42 million, pending the final determination of the suit.

Besides this, the court also directed that the Pekan MP's must disclose to SRC's solicitors (plaintiff) in writing on their assets, in or outside of Malaysia, up to the value of RM42 million within 30 days after the order has been served on Najib who is also former UMNO president.

The former premier shall be entitled to draw and expend from a bank account or other sources a sum not exceeding RM100,000 per month for their ordinary living and legal expenses in which the court highlighted that this amount is inclusive of the ad interim Mareva injunction order obtained by 1Malaysia Development Bhd (1MDB).

JC Mohd Arief Emran also fixed the next case management on May 13.

A lawyer from Messrs Rosli Dahalan Saravana Partnership who represented SRC when contacted, confirmed the court's decision.

On Feb 8, 1MDB and its subsidiaries, Global Diversified Investment Company Limited (formerly known as 1MDB Global Investments Limited) have obtained a Mareva injunction from the High Court here to stop Najib from disposing of or reducing the value of any of his assets in Malaysia up to US$681 million.

However, on Feb 18, Najib had filed an application to set aside the Mareva injunction. The hearing was fixed on May 6.

On July 28, 2020, the High Court sentenced Najib to 12 years in prison and a fine of RM210 million after finding him guilty of misappropriating RM42 million in SRC funds. The case is currently at the appeal stage in the Federal Court after the Court of Appeal upheld the High Court's conviction and sentence.

-- BERNAMA