PETALING JAYA: The Court of Appeal, on Aug 1, 2025, has unanimously dismissed an application by former Malaysian Merchant Marine Berhad (MMM) executive deputy chairman Datuk Ramesh Rajaratnam to review its earlier decision delivered on May 6, 2024.
In a statement, the Securities Commission Malaysia (SC) said the court has always been cautious in exercising the power of review of its earlier decision, adding that the review powers of the court may only be exercised in exceptional circumstances.
“The panel found that the high threshold for leave to review the prior decision of the Court of Appeal had not been met in Ramesh’s application.
On May 6, 2024, a previous Court of Appeal panel had allowed the SC’s appeal and set aside a 2021 High Court decision that acquitted Ramesh of insider trading.
The Court of Appeal ruled that the High Court had erred in acquitting Ramesh without considering the merits of the case, and as such reinstated the conviction and sentence imposed by the Sessions Court and remitted the case to the High Court to be reheard on its merits.
The rehearing of Ramesh’s appeal on its merits has been fixed before the High Court on Aug 20, 2025.
