Karachi: The liquidators of Pakistan Hotels Developers Limited have provided an update on the company's winding-up proceedings, revealing significant developments in legal and tax matters. This clarification was made available on January 26, 2026, to the shareholders in accordance with the Securities Act, 2015, and the Pakistan Stock Exchange Limited's Rule Book.

The company is undertaking a structured liquidation process, with efforts focused on beneficially concluding the winding-up. The liquidators are closely monitoring the issuance of a No Objection Certificate from the Federal Board of Revenue for the de-registration of the company from the National Tax Number list. This process includes addressing a notice for amending the tax assessment for the year 2025, initially issued in December 2025, as part of the liquidation procedures.

According to information available from the Pakistan Stock Exchange (PSX), the company is also managing ongoing legal cases, most notably with Saudi Arabian Airline. These matters are detailed in previous audited financial statements. The liquidators are working diligently, alongside the legal team, to resolve these cases either through court proceedings or out-of-court settlements to expedite the winding-up process.

In light of the ongoing proceedings, the liquidators have applied to the Honorable High Court of Sindh for an extension of the winding-up period under section 372(5) of the Companies Act 2017. This petition, numbered JCM 01 of 2026, is currently pending. The request for an extension was communicated via the PSX on December 26, 2025.

The liquidators remain committed to concluding the winding-up process efficiently and urge shareholders to disregard any false or misleading information regarding the company's liquidation. They express gratitude to the shareholders for their continued support throughout this process.