Karachi October 3 2023: TRG Pakistan and others have filed case before the Sindh High Court at Karachi, challenging the false, unsubstantiated, and defamatory allegations published by Zia Chishti, and asserting that his actions are part of his continued and mala fide efforts to unlawfully take over control of the Company, according to company filing to the exchange.
The Honourable High Court of Sindh was pleased to pass an interim order dated September 28, 2023 in the said proceedings, ordering that the impugned requisition notice shall not be acted upon.
It is reminded that Zia Chishti resigned as the CEO of the Company (and all associated positions) following disclosure by an ex-employee in a United States Congressional testimony of an arbitration award against him for sexual harassment and assault . The Company believes that any association with Zia Chishti would be highly damaging to the value of the Company’s underlying assets, and is engaged in multiple lawsuits involving unlawful attempts by Zia Chishti to regain control of the Company.
