Islamabad High Court approves Scheme of Arrangement for ENGRO, DAWH

News Image

MG News | July 24, 2024 at 09:21 AM GMT+05:00

Join our Whatsapp channel
0:00

July 24, 2024 (MLN): In a significant legal development, the Islamabad High Court has sanctioned the Scheme of Arrangement filed jointly by Engro Corporation Limited (PSX: ENGRO), Dawood Hercules Corporation Limited (PSX: DAWH), and DH Partners Limited (DHPL), the companies' filing on PSX revealed today. 

The Scheme of Arrangement is set to take effect on January 1, 2025.

This development is under sections 279 to 282 and 285 of the Companies Act, 2017.

Engro Corp has assured the Exchange that it will keep stakeholders informed about the completion of post-sanction procedural requirements as outlined in the Scheme.

"The law is by now quite settled that the Court is not to second-guess the commercial and business wisdom and preference of the shareholders and creditors of companies," the copy of the Islamabad High Court's Order stated. 

The Court's task is limited to watching over the regulatory and legal compliances being properly carried out, for which SECP takes the lead in its assistance to the Court on such matters, it reads. 

Copyright Mettis Link News

Related News

News
PSX Closing Bell: A Day in the Green
News
Intermarket Securities Limited expands with AFT Japan Private Limited
News
Symmetry Group lands major Jazz deal
Name Price/Vol %Chg/NChg
KSE100 148,743.32
232.74M 		1.29%
1900.34
ALLSHR 89,074.97
432.50M 		1.26%
1107.38
KSE30 45,031.60
99.89M 		1.35%
600.19
KMI30 216,075.56
75.58M 		1.56%
3321.53
KMIALLSHR 58,342.49
204.46M 		1.47%
844.48
BKTi 40,694.56
42.04M 		1.52%
608.89
OGTi 31,278.90
11.43M 		2.01%
615.13
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 68,260.00 68,805.00
66,125.00 		1585.00
2.38%
BRENT CRUDE 104.17 109.99
102.65 		-3.22
-3.00%
RICHARDS BAY COAL MONTHLY 112.50 0.00
0.00 		0.95
0.85%
ROTTERDAM COAL MONTHLY 119.00 119.50
118.75 		-2.90
-2.38%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00 		0.00
0.00%
CRUDE OIL - WTI 101.27 106.86
99.62 		-1.61
-1.56%
SUGAR #11 WORLD 15.51 15.74
15.12 		-0.04
-0.26%
Chart of the Day
Latest News
March 31, 2026 at 05:20 PM GMT+05:00

Seasonal demand sparks surge in China’s spring economy

March 31, 2026 at 04:55 PM GMT+05:00

China leads global hydrogen race

March 31, 2026 at 04:48 PM GMT+05:00

FBR imposes 72-hour cap on E-invoice edits

Top 5 things to watch in this week
Black checkmark icon SBP Interventions in Interbank FX Market
National Accounts Q2 FY26
CPI
Trade Balance
MTB Auction
Previous
Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg