ISLAMABAD — In a fresh twist to the ongoing legal proceedings involving TRG Pakistan Limited (PSX: TRG), the Islamabad High Court (IHC) has suspended the operation of its earlier judgment in Writ Petition No. 2337 of 2025, offering interim relief to the company while an Intra-Court Appeal is under consideration.
TRG disclosed the development to the Pakistan Stock Exchange (PSX) on Saturday, under Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book. The company confirmed that it had received a certified copy of the interim order on July 12, 2025, which temporarily suspends the implementation of the IHC’s earlier decision pending further proceedings.
The earlier judgment, issued on June 28 and disclosed by TRG on July 4, had directed a reconstitution of the company’s board of directors. That ruling had raised concerns within the company’s management about procedural irregularities and its broader implications for corporate governance and shareholder representation.
TRG had expressed firm disagreement with the ruling, calling it legally flawed and sub judice during its corporate briefing, while also noting that a related case was already being heard by the Sindh High Court. The management had also flagged “irregularities” in both judgments and warned of the implications for orderly elections of the board and shareholder rights.
The latest order by the IHC, which came in response to TRG’s Intra-Court Appeal, stays the enforcement of the contested decision and keeps the current board structure in place — at least until the next hearing date is set and further arguments are heard.
This interim suspension marks a temporary legal victory for TRG, which has been grappling with a series of court challenges and shareholder disputes over governance and board elections.
The case remains sub judice, and TRG noted in its filing that further developments will depend on the outcome of subsequent hearings.
