ISLAMABAD: The Islamabad High Court (IHC) on Tuesday ruled that all assets, properties, rights and liabilities of Telenor Pakistan would stand transferred to Pak Telecom Mobile Limited (PTML), the parent company of Ufone, following which the former company would be deemed dissolved, without undergoing the winding-up process.

In its detailed order, the court noted that the scheme had been approved unanimously by the secured creditors and members of both companies during separate meetings held on June 5. The IHC observed that financial interests of creditors were “adequately safeguarded” and that the statutory requirements had been duly complied with.

Earlier this month, Telenor Pakistan was formally amalgamated into Pak Telecom Mobile Limited (PTML), as final statutory approval was granted by the IHC.

Justice Soomro emphasised that the court’s role in such corporate restructurings is “supervisory in nature” and not to substitute its commercial wisdom for that of the shareholders.

After reviewing the reports submitted by the chairmen and the no-objection certificates issued by creditors, including the International Finance Corporation consortium, the court concluded that the scheme was fair, lawful and not contrary to the public interest.

“The material placed before this Court demonstrates that the statutory requirements prescribed under the Companies Act, 2017, have been duly complied with,” the judgement stated.

Published in Dawn, July 15th, 2026