KARACHI: TRG Pakistan Limited on Thursday said that Sindh High Court has passed an order on February 22, 2023 suspending, for the time being, the operation of bailable warrants issued by the district and sessions court against its directors.
In an information shared with the Pakistan Stock Exchange (PSX), the company referred to various new articles circulating in the electronic and print media regarding the issuance of bailable warrants by the district and sessions court in Karachi against various individuals, including certain directors of TRG Pakistan Limited.
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It further stated that these individuals had filed appropriate legal applications in the Sindh High Court and submitted that the impugned district and sessions court order suffers from illegalities, infirmities as well as jurisdiction error.
The individuals further submitted that in November 2021, the United States House Judiciary Committee had made public the testimony of Ms. Tatiana Spottiswoode against Zia Chishti, which was publicized extensively in international media.
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It was followed by resignation of Zia Chishti from all his position at the company and its associates.
Furthermore, it was submitted that the United States House Judiciary Committee has also publicly released on its website, the arbitration award against Zia Chishti.
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TRG said that accordingly, the Sindh High Court passed the order to suspend, for the time being, the operation of the bailable warrants issued by the district and session court against those individuals.
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