Shareholders of Orix Investment Bank and Orix Leasing Pakistan gave approval for merger of the two companies by majority votes in their separate meetings held on Monday. The two companies announced in separate statements that they had been evaluating the pros and cons of an amalgamation of the investment bank with and into the leasing company. At an extraordinary general meeting of Orix Investment Bank, 99.36 percent of shareholders agreed to the scheme of amalgamation. Similarly, 99.98 percent of shareholders of Orix Leasing Pakistan agreed to the scheme of amalgamation at their extraordinary general meeting. Votes of a majority in number representing two-thirds in value of the shareholders were required. Orix Investment Bank incurred a loss of Rs 250.197 million during the first nine months of current fiscal year. Orix Leasing had been looking at various options to solve the financial difficulties being faced by its associate Orix Investment Bank Pakistan. On March 31, 2009, its boar...