Karachi: E co Pack has officially notified stakeholders of the withdrawal of a legal suit concerning the appointment and term of its Chief Executive Officer, Mr. Hussain Jamil. The suit, numbered 1954 of 2022, was retracted on September 16, 2024, before the Honorable High Court of Sindh.
According to information available from the Pakistan Stock Exchange (PSX), the legal challenge was initially lodged by Mr. Jamil himself, centering on specifics of his role and tenure within the company. The withdrawal marks the resolution of the dispute, although details on the circumstances leading to this conclusion remain undisclosed.
The company's compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations is noted in its communication to the exchange. This adherence underscores E co Pack's commitment to regulatory guidelines and transparent corporate governance.
Stakeholders and members of the exchange have been informed about the cessation of legal proceedings, which is likely to stabilize the leadership structure within E co Pack as it moves forward from this legal entanglement.