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J.K. SPINNING MILLS LTD. versus J.K. FIBER MILLS LTD.


Sections 284 and 286 Companies Merge Scheme Merger The merger company was one of two applicants companies, one of which was to be integrated into the other validity. The applicants had expressed their concern about the safety of their leased machinery that under the scheme all the obligations and responsibilities of integrating the entities including their duties in connection with the lease finance and leasing machinery. Survival must be avoided and eliminated. The tendered scheme and the same thing removed the concerns of the leasing company, there was no barrier to the granting and approval of the merger scheme of one applicant to another applicant company, the merger filed by the applicant. The High Court had approved the scheme in these circumstances

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