TRG Pakistan plans appeal against IHC Order

July 04, 2025 (MLN): TRG Pakistan Ltd. (PSX: TRG) is preparing to file an Intra-Court Appeal in the Islamabad High Court, citing “several shortcomings and irregularities” in a recent court order that directed the Securities and Exchange Commission of Pakistan to call an EOGM for board elections.

The court order had directed the Securities and Exchange Commission of Pakistan (SECP) to exercise its powers under Section 147 of the Companies Act, 2017 and call an Extraordinary General Meeting (EOGM) of the company to conduct elections of directors.

This directive followed a writ petition by a shareholder holding 55,000 shares (0.01%), seeking enforcement of SECP’s statutory duties.

In addition, the IHC appointed Mr. Muhammad Fahad Khattak Advocate as Commission to oversee the election process, with instructions to submit a report every fifteen days.

The court also underscored SECP’s authority to directly call such meetings, dismissing its earlier stance as “misconceived.”

This marks the second major legal hurdle for TRG’s management in recent months, following the Sindh High Court's issuance of a detailed judgment on similar matters, which prompted the company to approach the Supreme Court.

With TRG now preparing to contest the Islamabad ruling, the case continues to draw attention as a potential benchmark for corporate governance enforcement in Pakistan.

Copyright Mettis Link News