LUCKY LANDMARK (PVT.) LTD. AND ANOTHER vs State Ss — 2023 CLD 639 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2023 CLD 639 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2023
Reporter: CLD
Parties: LUCKY LANDMARK (PVT.) LTD. AND ANOTHER vs State 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

LUCKY LANDMARK (PVT.) LTD. AND ANOTHER VS State Ss. 279, 280, 281, 282, 283 & 285---Compromise with creditors and members---Reconstruction or amalgamation of companies---Scope---Petitioners sought sanction of the High Court to a Scheme of Arrangement---In terms of the Scheme of Arrangement entire undertaking and business including assets, rights, properties, benefits, powers, privileges, contracts, liabilities, encumbrances, obligations and dues of the transferor company would be transferred to and vested in and assumed by the transferee company against the allotment and issue of shares to shareholders of the transferor company---Transferee company would act accordingly whereas transferor company would cease to exist without winding up and its shares held by the shareholders would stand cancelled---All issued share capital of both the companies was wholly owned by a parent company, thus, no shares of transferee company were required to be issued to shareholders of the transferor company---Not a single shareholder or secured creditor of any of the two petitioners had objected to the scheme---Petition was allowed, in circumstances.

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