SITC clarifies FIR does not pertain to company's own affairs

MG News | July 21, 2026 at 09:40 AM GMT+05:00

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July 21, 2026 (MLN): Sitara Chemical Industries Limited (PSX: SITC) has clarified that an FIR registered by the Federal Investigation Agency (FIA), which names the company's Chief Executive Officer, primarily pertains to the affairs and operations of another, unrelated company, and that suggestions to the contrary are factually incorrect.

The company added that the FIR merely records allegations, with no findings or determination made by any court or competent authority so far.

The company said it and its Chief Executive Officer categorically deny the allegations to the extent they relate to them, and will pursue all appropriate legal steps to protect their rights and interests under applicable law.

Sitara Chemical further confirmed that its manufacturing operations and business activities remain uninterrupted in the ordinary course of business, with no adverse impact on its day-to-day operations.

The aforementioned information was disseminated through a notification to Exchange.

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