JS Group cleared of allegations, court rejects TRG Pakistan’s claims
Hayyan Mansuri | December 04, 2025 at 03:51 PM GMT+05:00
December 04, 2025 (MLN): Jahangir Siddiqui &
Co. Ltd. (PSX: JSCL) has been vindicated in a major legal development
after a Karachi court dismissed the suit filed by TRG Pakistan Limited
(“TRGPL”) and others, declaring it barred by law.
In a notice sent to the Pakistan Stock Exchange (PSX),
the company disclosed that the court rejected the entire case under Order VII
Rule 11 of the Code of Civil Procedure, 1908.
The judge held that TRGPL failed to establish any legal
character or proprietary right necessary for seeking a declaratory decree.
The court further observed that the allegations brought by
the plaintiffs were unsupported by any legally cognizable evidence and did not
satisfy the statutory criteria for the reliefs they sought.
Importantly, the order issued no adverse findings or
directions against any defendant, including Jahangir Siddiqui & Co. Ltd.,
its subsidiaries, or any of their officers.
At the time of writing, JSCL is being traded at Rs23.52, down Rs0.47 (-1.96%).
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