LHC allows de-merger of FTMM's battery division
MG News | January 18, 2023 at 11:59 AM GMT+05:00
January 18, 2023 (MLN): The Lahore High Court (LHC) has sanctioned the Scheme of Arrangement for the de-merger of the battery division and the consequent transfer of all assets and liabilities of the battery division from First Treet Manufacturing Modaraba (FTMM) to Treet Battery Limited, the company filing on PSX revealed on Wednesday.
To recall, on January 24, 2022, the management of FTMM filed a petition before LHC for the demerger of the battery division.
At the time of writing, the scrip of the company is valued at Rs8, down by 3.96% DoD.
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