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KUALA LUMPUR: The High Court set November 18 for a decision on a Deloitte PLT request for judicial review to challenge the Malaysian Securities Commission (SC) decision to dismiss its request for review of the 2.2 fine. million ringgit imposed on the audit. firm.
Lawyer Malik Imtiaz Sarwar, representing Deloitte, informed Bernama of the new hearing date.
The matter was supposed to have been decided by Judge Mariana Yahya today, but has since been annulled following the implementation of the conditional motion control order (CMCO) in Selangor, Putrajaya and Kuala Lumpur from October 14 until tomorrow.
The SC fined Deloitte a total of RM2.2 million for four defaults linked to the RM2.4 billion sukuk bond issued by Bandar Malaysia Sdn Bhd (BMSB), a subsidiary of 1MDB, in 2014.
Deloitte was the statutory auditor for BMSB and 1MDB Real Estate Sdn Bhd, now known as TRX City Sdn Bhd, for their financial years 2015 and 2016.
On November 14, 2019, Deloitte filed the request for judicial review against the SC’s decision to dismiss its request to review administrative sanctions.
On November 25, Mariana granted Deloitte permission to begin her judicial review request, seeking to overturn the SC’s review decision on August 19, 2019, which upheld the RM2.2 million fine against Deloitte imposed on January 30. of 2019.
Deloitte is also seeking a certiorari order to overturn the SC’s review decision to impose the fine, as well as seeking the return of the RM2.2 million it paid in the event the court rules in favor of its request for judicial review, costs and any additional orders. deemed appropriate and appropriate by the court.
