SECP issues final notices in Unity Foods insider trading probe

September 2, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has issued final notices to four individuals, including Unity Foods CEO Muhammad Farukh, in an investigation into alleged insider trading and unusual transactions in Unity Foods shares.

Muhammad Farukh, Safdar Sajjad, Fahmida Amin and Hina Safdar have been summoned in their personal capacity on September 3.

The SECP investigation team has sought an explanation and relevant records from the individuals regarding trading in Unity Foods shares.

Muhammad Farukh has been asked to provide complete records concerning the pledge of Unity Foods shares with banks, while Safdar Sajjad, Fahmida Amin and Hina Safdar have been asked to explain the purchase and sale of shares.

The four individuals did not appear before the investigation team in response to the initial notices. Following their non-appearance on August 31, the SECP issued final notices.

The formal investigation into Unity Foods’ share trading has been underway since June 2 under Section 139 of the Securities Act, 2015. The individuals have been directed to appear with trading records and supporting documents.

The investigation comes amid separate regulatory and law-enforcement scrutiny involving Unity Foods and its wholly-owned subsidiary, Sunridge Foods (Pvt) Ltd, following an SECP referral to the Federal Investigation Agency (FIA) under Section 41-B of the SECP Act, 1997.

Following the referral, the FIA Corporate Crime Circle, Karachi, registered FIR No. FIR-CCC-KHI-15/26 dated August 29, 2026 against certain current and former officers and directors of Unity Foods and its subsidiary.

The FIA investigation includes allegations of a Rs44.7bn discrepancy between Unity Foods’ published accounts and its internal SAP records.

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