FTMM files petition for battery division’s demerger

MG News | January 24, 2022 at 02:57 PM GMT+05:00

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January 24, 2022 (MLN): The management of the First Treet Manufacturing Modaraba (FTMM) has filed a petition before the Honorable High Court of Lahore for the demerger of battery division.

This is a reference to the approval accorded by the board of directors of the management company, fulfilment of all legal and regulatory requirements and pursuant to the relevant sections of the Companies Act, 2017.

While the matter is sub judice the Battery Division will continue to be a part of FTMM, the notification added.

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