TRG Pakistan receives court orders on Writ Petitions

News Image

MG News | April 29, 2025 at 09:57 AM GMT+05:00

0:00

April 29, 2025 (MLN): TRG Pakistan Limited (PSX: TRG) has received certified copies of court orders regarding the adjudication of Writ Petitions 3383 and 3395 of 2025 filed in the Lahore High Court and Writ Petition 693 of 2025 filed in the Islamabad High Court by Mr. Zia Chishti.

In these petitions, Mr. Chishti sought suspension of ad-interim orders issued by Civil Judges in Lahore and Islamabad on December 2, 2024, December 10, 2024, and February 11, 2025, which restrained the Company with respect to its board elections.

On April 8, 2025, the Honorable Islamabad High Court dismissed Writ Petition 693 of 2025, and on April 11, 2025, the Honorable Lahore High Court dismissed Writ Petitions 3383 and 3395 of 2025, the company's filing on PSX revealed today. 

Separately, the Company has been informed by its affiliate, The Resource Group International Limited (“TRGIL”), that a final award has been issued by a US arbitrator regarding arbitration proceedings initiated by TRGIL against Mr. Chishti concerning the pledging of Company shares owned by him.

A partial final award issued on January 27, 2025, had found that the shares pledged by Mr. Chishti, primarily to JS Bank as loan security, breached his contractual obligations.

On April 22, 2025, the arbitrator issued a final award ordering Mr. Chishti to pay TRGIL a sum of $9.1 million, in addition to the remedies outlined in the partial final award.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 154,439.68
241.10M
-1.09%
-1701.56
ALLSHR 94,668.16
984.91M
-0.80%
-765.63
KSE30 47,119.91
93.25M
-1.26%
-600.63
KMI30 226,125.72
147.15M
-1.17%
-2674.34
KMIALLSHR 63,569.05
456.03M
-0.92%
-592.28
BKTi 41,622.83
56.72M
-1.28%
-538.80
OGTi 31,488.79
10.15M
-1.08%
-344.95
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,850.00 117,320.00
114,850.00
1920.00
1.67%
BRENT CRUDE 66.88 68.17
65.71
0.51
0.77%
RICHARDS BAY COAL MONTHLY 84.00 84.00
84.00
-1.90
-2.21%
ROTTERDAM COAL MONTHLY 93.00 93.25
92.75
0.00
0.00%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.60 63.98
61.69
0.23
0.37%
SUGAR #11 WORLD 15.81 15.87
15.67
-0.01
-0.06%

Chart of the Day


Latest News
September 12, 2025 at 06:41 PM GMT+05:00

CCP approves AZT Foundation’s acquisition of Route2Health


September 12, 2025 at 05:24 PM GMT+05:00

SBP updates IFRS 9 rules for microfinance banks


September 12, 2025 at 05:16 PM GMT+05:00

PSX Closing Bell: The Tide Turns Red


September 12, 2025 at 05:04 PM GMT+05:00

PKR ends week with flat trade at 281.55



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg