KARACHI: K-Electric has filed a suit before Sindh High Court against a former member of Board of Directors demanding Rs5 billion as damages.
(more…)Category: Corporate
Corporate sector insights covering business strategies, governance, finance, taxation, and regulatory developments shaping company performance.
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GSK Pakistan secures top employer slot for third consecutive year
GSK Pakistan has been re-certified by The Top Employers Institute as a top employer 2023 for the third consecutive year.
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Visa appoints Umar as country manager of Pakistan
KARACHI: Visa, the world leader in digital payments, has appointed Umar Khan as country manager for Pakistan, a statement said on Tuesday.
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Engro LNG terminal helps Pakistan to save over $3 billion through import substitution
KARACHI: Engro LNG Terminal has helped Pakistan to save around $3 billion through import substitution of furnace oil, according to a statement issued Thursday.
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Careem launches services for money transfer from UAE to Pakistan
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Martin Dow Group launches scholarship program for IBA students
KARACHI: Martin Dow, the Multinational Healthcare Group in Pakistan, has launched another initiative for deserving students at IBA Karachi under the program of M. Jawed Akhai Scholarship seats.
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Dawlance, Habib Metro Bank sign MoU for supply chain financing
KARACHI: Dawlance has signed a Memorandum of Understanding (MoU) with Habib Metro Bank Limited (HMBL) to enable the suppliers and contractors of Dawlance, to undertake Supply Chain Finance (SCF) transactions with ease.
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Mari Petroleum announces gas discovery in Sindh province
KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced gas discover in Sindh province.
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TRG moves court against JS Bank, others
KARACHI: The Resource Group International Limited (TRG International) has filed a suit before the Sindh High Court against JS Bank Limited and others.
According to the information shared with the Pakistan Stock Exchange (PSX, The Resource Group International Limited (TRG International) has filed Suit no. 19 of 2023 before the Sindh High Court at Karachi against JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited, DJM Securities Limited, Muhammad Ziaullah Khan Chishti (“Zia Chishti”), Sarah Jennifer Pobereskin (Zia Chishti’s wife) and others.
TRG International believes that the lending arrangements entered into by Zia Chishti and Sarah Jennifer Pobereskin with JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited are in violation of the Stock Purchase Agreement binding on Zia Chishti that places restrictions on any transfer or encumbrance on shares of TRG Pakistan directly or indirectly owned by him.
The Honourable High Court of Sindh was pleased to pass an interim order on January 7, 2023 in the abovementioned proceedings, restraining JS Bank Limited (including its Bahrain Branch), JS Global Capital Limited, Bank AL Habib Limited and DJM Securities Limited from creating any third party interest in any manner whatsoever in relation to the Company’s securities pledged by Zia Chishti and Sarah Jennifer Pobereskin wither them, till the next date of hearing.
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State Life Insurance directed to pay interest for delayed payment
KARACHI: State Life Insurance Corporation of Pakistan (SLICP) has been directed to pay interest to a policy holder for delayed payment.
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