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MASOOD FABRICS LIMITED vs JOINT REGISTRAR OF COMPANIES Ss — 2022 CLD 1549 LAHORE-HIGH-COURT-LAHORE

Case information

Citation
2022 CLD 1549 LAHORE-HIGH-COURT-LAHORE
Court
Lahore High Court
Year
2022
Reporter
CLD
Parties
MASOOD FABRICS LIMITED vs JOINT REGISTRAR OF COMPANIES Ss

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

MASOOD FABRICS LIMITED VS JOINT REGISTRAR OF COMPANIES Ss. 270, 280, 281, 282 & 284---Scheme of arrangement and merger---Scope---Petitioner companies sought their merger on the basis of scheme of arrangement filed in Court---Validity---Extraordinary general meetings of petitioner companies were held wherein 100% of the shareholders were present---All shareholder by voting unanimously, consented to and approved scheme of arrangement for rearrangement and reconstruction of companies in question---All formalities with respect to holding of such meetings were duly complied with---Competition Commission of Pakistan conveyed its authorization to the scheme of arrangements---Scheme of arrangement was acceptable to shareholders, creditors and regulators---Scheme of arrangement was not prejudicial to the members of petitioner companies---High Court was satisfied with merits of scheme of payment which was placed on record in report of Chairmen duly signed by them---High Court sanctioned scheme of arrangement---Petition was allowed accordingly.

Other judgments reported in 2022 CLD

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