HABIB METROPOLITAN MODARABA MANAGEMENT COMPANY (PRIVATE) LIMITED AND 2 OTHERS vs Ss — 2023 CLD 464 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2023 CLD 464 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2023
Reporter: CLD
Parties: HABIB METROPOLITAN MODARABA MANAGEMENT COMPANY (PRIVATE) LIMITED AND 2 OTHERS vs 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

HABIB METROPOLITAN MODARABA MANAGEMENT COMPANY (PRIVATE) LIMITED AND 2 OTHERS VS Ss. 279, 280, 282, 283 & 285---Scheme of arrangement---Scope---Petitioners requested the Court's approval of Scheme of Arrangement, which involved merging company No. 3 into company No. 2 through the management of company No. 1---Scheme of Arrangement provided for the transfer, vesting, and assumption of the entire undertaking and business of company No. 3, including its assets, rights, properties, benefits, powers, privileges, contracts, liabilities, encumbrances, obligations and dues by company No. 2---Consequently, company No. 2 would operate under its name, while company No. 3 would stand dissolved without being wound up---Scheme of Arrangement safeguarded the rights and interests of members, creditors, employees and certificate holders---No objection certificate was secured from Securities and Exchange Commission of Pakistan (SECP) and secured creditors---Petitioners completed all necessary legal formalities, including holding separate meetings of certificate holders and board of directors and publishing and issuing notices to the SECP---No certificate holder of any of the companies objected to the scheme---As there were no obstacles to granting the petition, it was allowed.

Other judgments reported in 2023 CLD

2023 CLD 393 LAHORE-HIGH-COURT-LAHORESTATE LIFE INSURANCE CORPORATION OF PAKISTAN VS SURRIYA ASGHAR S. 118---Civil Procedure Code (V of 1908), O. XIV, R. 1---Payment of liquidat…
2023 CLD 1184 SUPREME-COURTQazi HUMAYUN VS Mst. SABIHA QAYUM all objections regarding liability and its discharge come to a close after the lapse of the limitation per…
2023 CLD 1184 SUPREME-COURTQazi HUMAYUN VS Mst. SABIHA QAYUM Notice---Party residing outside Pakistan---Under the law service by publication is good service even in re…
2023 CLD 466 SUPREME-COURTSAIF POWER LIMITED VS FEDERATION OF PAKISTAN through Secretary Ministry of Law, Civil Secretariat Islamabad Ss. 231, 263 & 265---Security an…
2023 CLD 297 SUPREME-COURTSUMMIT BANK LIMITED, LAHORE VS M. M. BROTHERS, PROPRIETORSHIP CONCERN O. XXI, Rr. 66 & 67(2)---Proclamation of sales by public auction---Com…
2023 CLD 297 SUPREME-COURTSUMMIT BANK LIMITED, LAHORE VS M. M. BROTHERS, PROPRIETORSHIP CONCERN O. XXI, Rr. 64, 65, 66, 67 & 90---Proclamation of sales by public auct…

Back to the case-law library · Search Pakistani case law in Urdu or English