PHDL Liquidators file fresh plea for winding-up continuation

MG News | July 01, 2026 at 10:19 AM GMT+05:00

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July 01, 2026 (MLN): Pakistan Hotels Developers Limited's (PSX:PHDL) Liquidators have filed an application before the High Court of Sindh at Karachi, seeking continuation of the Company's voluntary winding-up proceedings under the supervision of the Court.

The application, bearing JCM No. 38 of 2026 under Sections 381 and 386 of the Companies Act, 2017, was filed on June 27, 2026.

It comes after an earlier extension of 180 days, granted by the High Court of Sindh until June 29, 2026, expired without the winding-up process being concluded.

The Liquidators had sought that extension under Section 372 of the Companies Act, 2017, following the expiry of the initial one-year winding-up period in December 2025.

Despite the Liquidators having conducted the winding-up proceedings diligently and in accordance with prescribed procedure, the process could not be completed due to the pendency of legal proceedings and matters directly affecting its completion, including pending litigation and recovery of amounts due to the Company.

The aforementioned information was disseminated through a notification to Exchange.

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