Karachi: The Pakistan Stock Exchange (PSX) has announced an extension in the suspension of trading for the shares of M/s. Nirala MSR Foods Limited due to ongoing regulatory non-compliances. This decision follows the initial notice, PSX/N-1219, dated December 19, 2024, and will see the suspension remain in effect until the company addresses the underlying issues or for an additional 60-day period starting February 18, 2025.

The suspension stems from multiple failures by Nirala MSR Foods Limited, including the inability to conduct Annual General Meetings, failure to submit annual audited accounts, non-payment of dues to the Exchange, and a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) against the company in court.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension was made under the powers granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations. The designated market category for this action is critical to maintaining transparency and regulatory compliance within the trading environment.

This regulatory development serves as a reminder to listed companies of the importance of adhering to PSX regulations to ensure smooth trading operations and investor confidence. The PSX emphasized that the suspension would only be lifted once Nirala MSR Foods Limited rectifies the cited non-compliances or upon the expiration of the additional 60-day period.