Supreme Court dismisses appeals against SHC ruling in TRG shares case

The Supreme Court of Pakistan on Monday dismissed three appeals filed by Greentree Holdings Limited and others against a ruling of the Sindh High Court in the TRG Pakistan shares dispute case.

According to media reports, a three-member bench headed by Justice Naeem Akhtar Afghan and comprising Justice Muhammad Shafi Siddiqui and Justice Miangul Hassan Aurangzeb announced the short order after reserving judgment on February 3.

The short order, authored by Justice Miangul Hassan Aurangzeb, converted the petitions into appeals and dismissed them all.

“The appellants shall jointly and severally bear the respondent No.1’s (Chishti) costs in the said appeals,” the order stated.

The ruling effectively clears the way for Muhammad Ziaullah Khan Chishti to regain influence in TRG Pakistan, the outsourcing and technology firm he stepped down from in 2021 following disclosures in US Congressional testimony regarding an arbitration award related to sexual misconduct allegations.

The Sindh High Court had ruled on June 20, 2025, that shares held by Greentree Holdings Limited in TRG Pakistan were the property of TRG Pakistan and would be treated as treasury shares purchased by the company from its shareholders.

The high court had also directed TRG Pakistan’s board to immediately issue notice for an extraordinary general meeting to elect directors, with the newly elected board authorised to decide whether to retain or cancel the treasury shares.

The Supreme Court granted leave to appeal in three separate petitions filed by Greentree Holdings Limited, The Resource Group International Limited and TRG Pakistan before dismissing them through the short order announced on Monday.