Karachi: TRG Pakistan Limited has received favorable judgments in several legal matters concerning its board elections and affiliated arbitration case. According to official documents, the Lahore High Court and Islamabad High Court dismissed Writ Petitions filed by Zia Chishti, who sought to overturn restraining orders affecting the company's board activities.

On April 8, 2025, the Islamabad High Court dismissed Writ Petition 693 of 2025. This was followed by the Lahore High Court's dismissal of Writ Petitions 3383 and 3395 of 2025 on April 11, 2025. These petitions challenged ad-interim orders issued by civil judges in Lahore and Islamabad on December 2, 2024, December 10, 2024, and February 11, 2025, which had initially restricted the company concerning its board elections.

In a related development, TRG Pakistan Limited's affiliate, The Resource Group International Limited (TRGIL), reported a final arbitration award in a case against Mr. Chishti. The arbitration, initiated by TRGIL, contested the pledging of company shares by Mr. Chishti, which were used as collateral primarily to JS Bank. The arbitration panel had previously issued a partial final award on January 27, 2025, stating that the pledging of shares was a breach of Mr. Chishti's contractual obligations.

According to information available from the Pakistan Stock Exchange (PSX), the final award, issued on April 22, 2025, mandates Mr. Chishti to compensate TRGIL with a payment of $9.1 million. The decision underscores the legal and financial ramifications of the breach determined by the arbitrator.

These legal outcomes have placed TRG Pakistan Limited in a favorable position as it navigates corporate governance and legal compliance issues. The company's ability to effectively handle these challenges reflects its adherence to regulatory protocols as stipulated under Sections 96 of the Securities Act, 2015, and the relevant clauses of the Rule Book of the Pakistan Stock Exchange Limited.