Law:

Section:

Companies Ordinance (XLVII of 1984)-------Ss.284 & 287---Companies (Court) Rules, 1997, R.55--¬Sindh Chief Court Rules (OS), 8.953---Petition for sanction of Court for merger/amalgamation of companies---Compliance of the directions of the High Court before considering the proposed amalgamation appeared to have been fulfilled and nobody had come forward to object to same despite due publicity given to such proposal amalgamation/ merger scheme---High Court accepted the petition accordingly. JUDGMENT Through this petition filed under section 284 read with section 287 of the Companies Ordinance, 1984, petitioners, which are private companies with limited liability incorporated under the Companies Ordinance 1984 have sought permission/ sanction of this Court for merger/ amalgamation between them as required under section 284(1) of the Companies Ordinance, 1984 read with Rule 953 of the Sindh Chief Court Rules (O.S) and Rule 55 of the Companies (Court) Rules, 1997. As required under the law, notice of the petition for the proposed amalgamation of the two petitioner companies was affixed on the Court Notice Board on 19-4-2004. Notice was also issued to the Registrar Joint Stock Companies. Publication in two national daily newspapers, namely, Daily Dawn Karachi dated 27-4-2004 and daily Jang (Urdu), Karachi dated 30-4-2004 inviting objections, if any, from general public or any other person having interest was also made. Notice has also been published in the official Gazette of Pakistan dated 12th May, 2004. Objections or opposition has not been received from any quarter. Registrar Joint Stock Companies in his letter dated 24-6-2004 has also raised no objection if such amalgamation is allowed/ sanctioned. On 1-6-2004 the petitioners were directed to call the extraordinary meetings of their share-holders within two weeks from that date separately for the purpose of considering, adopting and agreeing to the scheme set-forth in the schedule (Annexures P/19 and P/20 to the petition). They were also directed that the amalgamation scheme be also circulated amongst all the members of both the companies and all classes of their…

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