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TRG Pakistan directors get temporary relief from defamation proceedings

TRG: Bottom line turns green in 9MFY23
  • 09:20
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March 24, 2023 (MLN): The High Court of Sindh (SHC) has temporarily halted all defamation-related proceedings against various individuals, including certain directors of TRG Pakistan Limited (TRG), the company's filing on PSX revealed today. 

These proceedings had been initiated by the former CEO of the Company at the District and Sessions Court (trial court) in Karachi.

This development came in the wake of our previous disclosure on February 23, 2023, which reported that the company's directors had lodged appropriate legal applications in SHC to challenge, among other things, the issuance of bailable warrants by the trial court.

The directors had claimed that the proceedings were riddled with illegalities, infirmities, and jurisdictional errors, and the SHC had responded by issuing an order on February 22, 2023, suspending the issuance of bailable warrants, at least for the time being.

Copyright Mettis Link News

Posted on: 2023-03-24T09:12:29+05:00

Numbers That Matter

Rs73 trillion
Pakistan’s Total Debt & Liabilities in 9MFY23
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Rs57.12 trillion
Central Govt Debt in March
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25% YoY
LSM Drops in March
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$6.1 billion
RDA in April
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$829 million
Trade deficit shrinks in April
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36.4% YoY
CPI for April
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$18mn
Current Account Surplus in April
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