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DFCity Group Bhd said two of its existing board members, Datuk Dr Li Wei and Zhang DanDan, have initiated legal proceedings against the company and another director, Low Kim Kiat.
The suit, filed on Aug 13, seeks to invalidate directors’ resolutions in writing (DRIWs) relating to the appointment of independent non-executive directors, the change of corporate representatives for all subsidiaries, and the re-designation of Low from executive director to managing director.
The plaintiffs also applied for an interim injunction to restrain the company, its board, and representatives from effecting the DRIWs pending the disposal of the case.
DFCITY said it has appointed legal counsel and “firmly believes that the legal proceedings is frivolous and without merit”, adding that it will “vigorously contest the legal proceedings and take the necessary actions to protect its rights and those of its stakeholders.” — TMR
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