P L D 2001 Karachi 5 (PLP)
NOVA LEATHERS (PRIVATE) LIMITED, I.I. CHUNDRIGAR ROAD, KARACHI and another‑‑‑Petitioners Versus THE REGISTRAR, JOINT STOCK COMPANIES, I.I. CHUNDRIGAR ROAD, KARACHI‑‑‑Respondent
| Citation | P L D 2001 Karachi 5 (PLP) |
| Forum / Court | |
| Bench Members | Zahid Kurban Alavi, J |
| Parties | NOVA LEATHERS (PRIVATE) LIMITED, I.I. CHUNDRIGAR ROAD, KARACHI and another‑‑‑Petitioners Versus THE REGISTRAR, JOINT STOCK COMPANIES, I.I. CHUNDRIGAR ROAD, KARACHI‑‑‑Respondent |
| Primary Law | Companies Ordinance (XLVII of 1984)‑‑‑ |
Q1: What are the key laws and sections cited in P L D 2001 Karachi 5 (PLP)?
This judgment primarily cites: Companies Ordinance (XLVII of 1984)‑‑‑ as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case P L D 2001 Karachi 5 (PLP)?
The case was heard and decided by the bench comprising: Zahid Kurban Alavi, J.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: P L D 2001 Karachi 5 (PLP) (NOVA LEATHERS (PRIVATE) LIMITED, I.I. CHUNDRIGAR ROAD, KARACHI and another‑‑‑Petitioners Versus THE REGISTRAR, JOINT STOCK COMPANIES, I.I. CHUNDRIGAR ROAD, KARACHI‑‑‑Respondent). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Muhammad Aqil for Petitioners.
- Date of hearing: 2th September, 2000.
Headnotes / Summary
‑‑‑‑Ss. 284 & 287‑‑‑Amalgamation and merger of companies ‑‑‑Object‑‑ Economy of scales, achieving of‑‑‑Companies were doing the same business and were being controlled and managed by common management‑‑Interest of shareholders and directors was common and it was not necessary to maintain two separate and distinctive registered offices‑‑‑Object of merger was to achieve the economy of scales and to carry on the business more economically and efficiently and to cut unnecessary administrative costs‑‑ Directors of both the companies had no objection to the merger/amalgamation‑‑‑Petition was allowed accordingly.
Judgment & Decree
Muhammad Aqil for Petitioners. Date of hearing: 2th September, 2000. This is a petition for amalgamation and merger of petitioner No.2 into petitioner No.
1. Petitioner No. 1 is a private limited company incorporated under Companies Ordinance carrying on business of tannery' and manufacture ox leather garments etc. The petitioner No.2 is doing the same business as petitioner No.
1. The nature of business and operations of both the petitioners are the same. Both the petitioners are controlled and managed by common management. Both the petitioners are being managed independently as required by law by their own Board of Directors and they are required to maintain separate and distinctive manufacturing, selling, purchasing and marketing agencies under the law which resulting in duplicating the process and incurring huge amount and costs. The interest of shareholders and Directors are common and it is not necessary to maintain two separate and distinctive registered offices. With a view to achieve the economy of scales and to carry on the business more economically and efficiently and to cut unnecessary administrative costs it is necessary to merge both the Companies. Notice of this petition was published in daily Jang, Karachi and also affixed on Court notice board. Registrar Joint Stock Companies filed their comments to this petition. I have heard the counsel for petitioner at length and have perused the record available before me. The Directors of both the Companies are present in Court and have no objection to merger/amalgamation. Accordingly I allow the petition as prayed. Q.M.H./M.A.K./N‑32/K Petition allowed.