Karachi, Ansari Sugar Mills Limited recently issued a statement clarifying their position regarding the non-holding of Annual General Meetings (AGMs). The company explained that this decision is a result of ongoing legal proceedings and compliance with court orders.

On December 23, 2021, the Senior Civil Judge of Karachi (South) disposed of two applications, namely Civil Suit #579/2021 and 143/2020, by rejecting the plaintiff's plea. Prior to this, the honorable court had issued a stay order, directing the parties to maintain the status quo.

In light of these legal developments, Ansari Sugar Mills Limited filed an appeal with the Additional District Judge of Karachi South. The next hearing for both appeals has been scheduled for August 2, 2023.

"We hope you will understand our position regarding the non-holding of AGMs, which is not intentional or deliberate, but rather in compliance with the orders of the Honorable Court," the company stated in their announcement.