Karachi: Pakistan Hotels Developers Limited has outlined its plan for liquidation following shareholder inquiries about the winding-up proceedings. The process began on December 31, 2024, after a Special Resolution was approved during the General Meeting, in accordance with the Companies Act 2017. The company aims to conclude the winding-up by the end of December 2025, addressing all debts, taxes, and legal cases.

Should the winding-up not be completed within the stipulated timeframe due to circumstances beyond the company's control, an application for a twelve-month extension will be submitted to the High Court of Sindh. This extension would be contingent upon the court's satisfaction with the reasons presented.

The financial statements for the fiscal year ending June 30, 2025, are currently being prepared and will be published post-audit. Following this, the company will initiate the process of settling liabilities and conducting final tax audits, in line with the submission of audited financial statements to the revenue authorities.

According to information available from the Pakistan Stock Exchange (PSX), the liquidators have committed to keeping shareholders informed of developments in a timely manner. This communication seeks to ensure transparency and record-keeping throughout the liquidation process.