Further thereto, in the matter of interlocutory injunctions, it is well-established that an applicant must furnish a valuable undertaking as to damages and demonstrate the financial capacity to satisfy such an undertaking. This principle was underscored by the Court of Appeal in Tan Bun Teet & Ors v Menteri Sains, Teknologi dan Inovasi Malaysia & Ors [2013] 3 MLRA 73, wherein the Court emphasised two critical considerations: first, the necessity to assess the true justice of the case with regard to all affected parties; and second, the fundamental obligation of the applicant to provide a meaningful undertaking supported by proof of the ability to honour it. In Tan Bun Teet the Court of Appeal held as follows: “[11] This leads on to the 2nd relief sought by the applicants in the injunction/ stay application. That is, the exercise of the rights under the TOL to be stayed forthwith. In this regard it was argued by learned counsel for the appellants that if the 4th respondent starts operations the judicial proceedings could be nugatory as the damage that could result may be irreparable, and irreversible. It is important to bear in mind that the applicants sought to restrain the issuance of the TOL and the exercise of the rights under the TOL 21! ! which had been given to the 4th respondent. In this regard, relying on the case of Keet Gerald Francis Noel John v. Mohd Noor bin Abdullah [1995] 1 MLRH 165; [1995] 1 MLJ 193, it is the argument of learned counsel for the 3rd and 4th respondents that there are really no serious issues to be tried in the context of the applicants' injunction/ stay application. We find there is much force in this argument. The significant point here is that it cannot be disputed that the rights under the TOL can only be exercised by the 4th respondent. The exercise of the rights under the TOL has passed to the 4th respondent, not the 2nd respondent anymore. The relief sought by the applicants would legally and commercially affect the 3rd and 4th respondents directly as the 4th respondent is the holder of the TOL. At this point, we should highlight an important fact. It is this. At all material times the 3rd and 4th respondents were not named or made parties to the judicial review proceedings and more than that were not parties to the stay application in the High Court. For this, it is all the more striking that the 3rd and 4th respondents had to file an application to intervene to be added as parties. In this respect, the case of R v. Inspector of Pollution and Another, Ex parte Greenpeace Ltd (supra), which was alluded to by the learned High Court Judge in her judgment, discussed the issue of stay and injunctions where similarly, an affected party, was not made a party to the proceedings. In much the same way, in the present case, as the outcome of granting the stay will be to effect detrimentally the operations of the 4th respondent, we take the view that the failure on the part of the applicants at the material time to include the 3rd and 4th respondents from the very outset in the injunction/stay application is fatal to their applications. 22! ! Hence, in our judgment there are really no serious issues to be tried in the context of the applicants' injunction/stay application. Moreover, the balance of equity must not be weighed as between the applicants and the 1st and 2nd respondents only, but must be ascertained with regards to the rights and interests of the 3rd and 4th respondents as well, having invested large sums of money for its operations. The 3rd and 4th respondents have invested a sum of around RM1.7 billion as at 21 March 2012 in the LAMP project. In light of the huge investments by the 3rd and 4th respondents, it is imperative that the applicants make an undertaking to damages and financial loss to be suffered by the 4th respondent, and not merely undertaking as to damages, if any, to be suffered by the 1st and 2nd respondents. It is trite law that an applicant for interlocutory injunction must provide valuable undertaking to pay damages and further the applicant must show that he has means to fulfill the said undertaking (see: Zaidin Abd Ghani v. Raja Raman Nair & Ors [2001] 2 MLRH 758; [2001] 6 CLJ 558 and Belize Alliance of Conservation Non-Governmental Organisation v. Department of Environment of Belize and Another [2003] 1 WLR 2839 and Regina v. Inspectorate of Pollution and Another Exparte Greenpeace Ltd). In our judgment, the applicants as private individuals have not shown proof of their financial standing to make good their bare undertaking, given under para 9 of the applicants' affidavit in support of the injunction/stay application.” [Underlined Emphasis Added] 23! !