KUALA LUMPUR: Six directors of Golden Plus Holdings Bhd (G Plus) has obtained the green light from the High Court on Friday Jan 22 to challenge Bursa Malaysia Securities Bhd for its public reprimand over a delay in submitting the company's annual audited accounts and annual report.

The company is involved in developing residential and commercial properties.The six directors are former Court of Appeal president Tan Sri Lamin Mohd Yunus, Datuk Abdul Halim Abdul Rauf, Goh Sin Tien, Datuk Jeyaraj Ratnaswamy, Yeoh Hor San and Low Thiam Hoe.

Justice Datuk Mohamed Apandi Ali granted their application for leave to review the decision by the Bursa Malaysia Appeals Committee to uphold the order made on Oct 2, 2009.

Counsel D.Paramalingam, who was assisted by Mohd Rizal Bahari, told reporters that Mohamed Apandi ruled said that there were issues to be tried by way of judicial review.

"The judge also held that the application was not an abuse of the court process", Paramalingam said, adding that he would file a notice of hearing within 14 days.

Besides the public reprimand, Bursa Malaysia had also imposed penalties on them for the delay in the submission of the company's annual audited accounts and annual report for the financial year ended Dec 31, 2007, as well as the quarterly report for the financial period ended March 31, 2008.

Abdul Halim, Goh, Jeyaraj and Yeoh were fined RM17,200 each while Low and Lamin were fined RM8,600 and RM43,000 respectively.

In the application, they said Bursa Malaysia issued a show-cause notice against them on July 18, 2008, for delay in submitting the company's annual audited accounts and annual report. They want the court to review and quash the Appeals Committee's decision.

Lamin, in his affidavit in support of the application, said he craved leave on the grounds that the Appeals Committee's decision was extremely prejudicial to him as well as to the other five directors of GPLUS as it was clearly made wholly inconsistent with the prevalent laws.

Lamin, 74, was the first president of the Court of Appeal until his retirement in March 2001. -- Bernama