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 Najib Razak from transferring or dissipating his assets amounting to RM42 million.
The decision was made by judicial commissioner 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.
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 his assets in and outside Malaysia up to the value of RM42 million, pending the final determination of the suit.
The court also directed that the Pekan MP must disclose to SRC’s solicitors, in writing, the details of his assets in or outside of Malaysia up to the value of RM42 million within 30 days of the order being served on him.
The former Umno president shall be entitled to draw and expend from a bank account or other sources a sum not exceeding RM100,000 per month for ordinary living and legal expenses, with the court highlighting that this amount was inclusive of the ad interim Mareva injunction order obtained previously by 1MDB.
Arief also fixed the next case management on May 13.
A lawyer from Messrs Rosli Dahlan Saravana Partnership, who represented SRC, confirmed the court’s decision.
SRC and Gandingan Mentari were represented by M Nagarajah, Syafinaz Vani, Clament Tay and Lisa Yong, while Farhan Shafee and Thilagan Mehanathan appeared for Najib.
On Feb 8, 1MDB and its subsidiaries Global Diversified Investment Company Ltd (formerly known as 1MDB Global Investments Ltd) 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 filed an application to set aside the Mareva injunction. The hearing has been fixed for 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.