SECP sanctioned amalgamation of Standard Chartered Leasing Limited with and Into ORIX Leasing Pakistan Limited

SECP sanctioned amalgamation of Standard Chartered Leasing Limited (SCLL) with and Into ORIX Leasing Pakistan Limited (OLP) ISLAMABAD, June 3: The Securities and Exchange Commission of Pakistan (SECP) has sanctioned the scheme of amalgamation of Standard Chartered Leasing Limited (SCLL) with and into ORIX Leasing Pakistan Limited (OPL).

The sanction was granted under section 282L of the Companies Ordinance, 1984. Pursuant to the Commission’s order, the entire undertaking of SCLL shall be amalgamated with, transferred to, vested in and belong to OPL. SCLL shall be dissolved on the date on which all the shareholders of SCLL are paid the price consideration in full. The sanction order has been issued on May 27, 2016.