Sindh High Court Blocks Quice Foods Merger With Indus Food Products

The Sindh High Court has restrained Quice Food Industries Limited from taking any further steps to complete its proposed merger with Indus Food Products Limited, following a legal challenge by shareholders holding a combined 26.87 percent stake in the company.

The order was passed during proceedings in Judicial Companies Miscellaneous No. 43 of 2026, in which the petitioners challenged the legality of the merger process.

ProPakistani has reached out to Quice Foods Limited for their official response on the matter. It will be added when received.

The dispute stems from an Extraordinary General Meeting (EGM) held on June 23, 2026, where Quice Food Industries announced that its shareholders had approved the merger with Indus Food Products.

However, the petitioners argued before the court that the merger allegedly did not meet the approval threshold required under Section 279(2) of the Companies Act, 2017, which mandates support from at least 75 percent of the company’s shareholders. They maintained that, since shareholders representing more than 26 percent of the company’s shareholding opposed the transaction, the required majority could not have been achieved.

The shareholders also alleged that they were prevented from casting their votes during the EGM and were deliberately excluded from the voting process, calling the proceedings unlawful.

The proposed merger has been the subject of multiple legal challenges in recent months. Earlier, another group of shareholders filed Judicial Companies Miscellaneous No. 29 of 2026, questioning the share-swap ratio approved by Quice Food Industries’ board and raising concerns over the transparency of Indus Food Products’ financial position.

With the latest court order, Quice Food Industries is barred from taking any further action on the merger until further directions from the Sindh High Court.