SHC restrains Shakarganj Ltd from disposing of property

MG News | March 02, 2022 at 10:53 AM GMT+05:00

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March 02, 2022 (MLN): The honourable Sindh High Court has restrained the management of Shakarganj Limited from disposing of the property in any manner whatsoever till further orders, the company filing on PSX showed today.

While, the honourable Lahore High Court has also directed that transfer of property, if any, shall be subject to further order of this court.

To note, the shareholders of Shakarganj Limited in their Annual General Meeting (AGM) on February 28, 2022, have resolved that the board of directors be and are hereby authorized and empowered to sell the agriculture land and delegate any or all of its powers in this regard to the Chief Executive Officer (CEO) or any other person on such terms and conditions as they deem fit, to act on behalf of the Company in carrying out and performing all acts.

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