Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The liquidation process, which began on December 31, 2024, follows the approval of a Special Resolution passed in the company’s General Meeting.
As per the Companies Act, 2017, PHDL aims to complete its winding-up proceedings by December 2025, which includes the settlement of debts, taxes, liabilities, and the resolution of any ongoing court cases.
The company’s liquidators have clarified that while the goal is to conclude the liquidation within the designated timeframe, unforeseen delays may occur. In such an event, PHDL plans to request a twelve-month extension from the High Court of Sindh, based on valid grounds and supporting documentation.
PHDL is currently preparing its financial statements for the fiscal year ending June 30, 2025. These statements will be published after an independent audit is completed. Once the audit is finalized, the company will proceed with final tax audits and the payment of outstanding liabilities.
The liquidators have emphasized their commitment to keeping shareholders updated on all material developments throughout the liquidation process, ensuring transparency and timely communication.
