SLCL secures High Court stay order

MG News | May 22, 2026 at 01:11 PM GMT+05:00

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May 22, 2026 (MLN): Security Leasing Corporation Ltd. (PSX:SLCL) has secured a stay order from the Honorable High Court of Sindh, halting all adverse or coercive actions against the company, including winding-up and delisting proceedings.

The injunction, issued on September 24, 2025, under Misc. Appeal No. 123 of 2025, came after SLCL appealed the SECP Appellate Bench's order dated April 8, 2025.

The Pakistan Stock Exchange (PSX), a party to the matter, has been requested to record the order and suspend any further action pending final disposal of the case.

On the financial front, SLCL is in the final phase of concluding loan settlements with multiple creditors, with negotiations at an advanced stage. The company also expects a significant recovery from a debtor to materialize in the coming days.

All outcomes from these developments, along with the broader restructuring efforts, are set to be reflected in the company's forthcoming annual financial statements.

SLCL credited the progress to management's dedicated efforts and the continued support of the Pakistan Stock Exchange.

The aforementioned information was disseminated through a notification to Exchange.

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