Karachi (Business Reporter): Lahore High Court approved merger of Nishat Chunian Limited (NCL)and Nishat Chunian Electric Company (NCECL). However, LHC did not incorporate merger date and authorized share capital in the decision.
“The management has filed an application for correction of the Order,” Nishat Chunian announced informed the Pakistan Stock Exchange.
In the new application, NC will request for incorporating the effective date and authorized capital of NC Electric in the order of Lahore Hight Court.
In the EOGM of NCL effective merger date was changed from “July 1, 2020 to June 30,2020” and “authorized share capital of NC Electric will be merge with the authorized share capital of NCL.