RELIANCE EXPORT (PVT.) LTD. AND OTHERS: IN THE MATTER OF versus RELIANCE EXPORT (PVT.) LTD. AND OTHERS: IN THE MATTER OF
Sections 284, 285, 286, 287 and 288 Companies (Court) Rules, 1977, R61 The application for the merger of the two companies was sought on the basis that after the merger the formation of a unit of the two companies was administered / over. Heads will be saved. Will increase the unit's profitability; General meetings were convened under the supervision of a local commission appointed by the High Court to improve operations, manufacturing and production and even simplify credit arrangements. The proposed merger scheme and various implementation arrangements were put before the meetings, both lenders and shareholders unanimously approved, followed by R-61, Companies (Court) Rules 1977. A notice of hearing was issued by the newspapers. Someone went ahead to object to the proposed scheme and the merger proposed by the scheme to merge the companies was approved by the High Court and as a result the proposed company would dissolve and its existence from the due date. Will expire
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