SC issues stay order of winding up proceedings of KSTM: PSX

MG News | June 22, 2022 at 12:50 PM GMT+05:00

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June 22, 2022 (MLN): Following the civil petition filed by Khalid Siraj Textile Mills Ltd (PSX: KSTM) and its judgment, the Honorable Supreme Court of Pakistan (SC) has issued notices and stay the winding-up proceedings, the company filing on PSX showed today.

"It is pertinent to mention here that KSTM filed a Civil Petition titled M/s Khalid Siraj Textile Mills Limited Lahore and others versus Additional Registrar of Companies, Securities and Exchange Commission of Pakistan, Islamabad and another bearing number C.P.835/2022 against the Judgment dated 20.01.2022 in which the Honourable Supreme Court of Pakistan was pleased to issue notices and stay the winding-up proceedings of the Company vide order dated 20.06.2022,” the notification read.

The liquidator has also been issued a notice and has been directed not to proceed further.

It is submitted that the order dated 20.6.2022 is not available as yet but the same is also reflected in the online case status on the official website of the Supreme Court of Pakistan.

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