Chakwal: Chakwal Spinning Mills Limited has received an extension from the Securities and Exchange Commission of Pakistan (SECP) to hold its Annual General Meeting (AGM) for the year ended June 30, 2024, and to file its quarterly financial statements for the period ended September 30, 2024. The company initially requested a 30-day extension under Section 132, read with Section 223 of the Companies Act, 2017.

The SECP has granted an extension until November 27, 2024, for the company to convene and hold its AGM for the fiscal year ending June 30, 2024. During the meeting, the company is expected to present its financial statements for shareholder consideration. Additionally, under Section 237 of the Companies Act, the SECP has extended the deadline for filing the first quarterly financial statements to November 29, 2024.

According to information available from the Pakistan Stock Exchange (PSX), this extension allows Chakwal Spinning Mills Limited to meet the regulatory requirements under the Companies Act, 2017. The SECP emphasized that the extension does not exempt the company from complying with other regulatory obligations under the Act.

The letter of extension was issued with the approval of the competent authority. However, it remains without prejudice to any potential actions the SECP may take for non-compliance with other provisions of the Act.