Karachi: The Pakistan Stock Exchange (PSX) has announced the continued suspension of trading in the shares of six companies due to ongoing regulatory non-compliance. This action follows a prior notice issued on May 23, 2025, which highlighted the initial suspension of these companies for failing to adhere to PSX regulations.
The companies affected by this suspension include M/s. Annoor Textile Mills Ltd, M/s. Dadabhoy Construction Technology Ltd., M/s. Hamid Textile Mills Ltd, M/s. Globe Textile Mills Ltd, M/s. Hajra Textile Mills Ltd, and M/s. Taj Textile Mills Limited. Each of these entities has been found in violation of various PSX regulations, including the failure to hold Annual General Meetings and submit annual audited accounts, among other issues.
According to information available from the Pakistan Stock Exchange (PSX), M/s. Annoor Textile Mills Ltd and M/s. Globe Textile Mills Ltd are among those facing winding-up petitions filed by the Securities and Exchange Commission of Pakistan (SECP) in court. Both companies also failed to induct their ordinary shares into the Central Depository System (CDS) and have suspended business operations in their principal lines of business.
Similarly, M/s. Dadabhoy Construction Technology Ltd. has ceased commercial production, and its independent auditor's report includes a disclaimer of opinion. SECP has initiated winding-up proceedings against this company as well. M/s. Hamid Textile Mills Ltd has been cited for non-payment of dues and an adverse opinion in its independent auditor's report. Meanwhile, M/s. Hajra Textile Mills Ltd and M/s. Taj Textile Mills Limited face winding-up petitions, among other compliance failures.
The suspension will remain in effect until the companies rectify the causes of suspension or for another 60 days beginning July 24, 2025. This decision is in accordance with the powers granted to the exchange under Sub-Section (7) of Section 19 of the Securities Act, 2015, and PSX Regulations 5.11. The affected companies fall under the designated market category of textiles and construction technology.