Karachi: Millat Tractors Limited has received approval from the regulatory authority to postpone its Annual General Meeting (AGM) originally scheduled for the fiscal year ending June 30, 2024. The application for this extension was submitted on August 19, 2024, citing sections 132 and 223 of the Companies Act, 2017.

The company sought this postponement to adequately prepare and present its annual audited financial statements at the AGM. According to information available from the Pakistan Stock Exchange (PSX), the Securities and Exchange Commission has extended the deadline for Millat Tractors to convene this meeting to October 30, 2024. This decision allows the company additional time to finalize and lay out the financial statements for shareholder review.

This extension has been granted under the stipulations of sections 132 and 223 of the Companies Act, which govern the scheduling and responsibilities pertaining to corporate annual general meetings. The approval from the Commission was given under the authority of the competent officials and is issued without prejudice, reserving the Commission’s right to enforce compliance with all regulatory requirements.