Mahbub & Company advised and represented both group companies in obtaining approval of the merger scheme.
A major corporate restructuring milestone for one of Bangladesh’s leading business groups: the High Court Division of the Supreme Court of Bangladesh has approved a merger scheme between Walton High Tech Industries PLC and Walton Digi-Tech Industries Limited under Section 228 of the Companies Act.
The judgment was delivered on 29 July 2026 in Company Matter No. 318 of 2026 by the Company Bench presided by Mr. Justice Sikdar Mahmudur Razi, following an application seeking approval of the proposed merger between the two Walton companies.
Earlier, Walton High-Tech Industries PLC, a listed company, obtained Bangladesh Securities and Exchange Commission approval on the merger scheme on 15.03.2026. Following BSEC approval, the M&C team filed an application for merger approval before the Company Bench of the Hon’ble High Court Division. On 01.04.2026, the Hon’ble High Court Division made usual directions for holding creditors and members meetings of both the merging companies. As such, meetings were held on 02.06.2026 and 03.06.2026 respectively, and the creditors and members of the companies approved of the merger unanimously.
The M&C team worked with ACNABIN, Chartered Accountants on the preparation of the merger scheme and as well as the corporate secretarial and regulatory matters relating to the transaction.
The M&C team was successful in satisfying the Company Bench that the merger was beneficial, commercially sound and in the best interests of the relevant companies and their stakeholders. The team also demonstrated that all relevant compliance required under the law, the Hon’ble Court’s directions and standard practice had been duly complied with, while placing before the Court the commercial rationale, legal basis and expected benefits of the merger.
The approval marks an important step in the restructuring and consolidation of the Walton group’s business operations, aimed at creating greater operational efficiency and a simplified group structure.
The applicants were represented in the Company Bench by Mahbub & Company, led by Head of Chambers A.M. Mahbub Uddin Khokon, Partner Saqeb Mahbub and Associate Lead- Corporate Secretarial, Tajriyaan Akram Hussain.
Associate, Rizwana Naznin and Junior Associate, Asif Hasan Satu assisted the corporate secretarial work and the legal drafting pertaining to the compliance related to the merger.
