Karachi: First Paramount Modaraba has submitted an application to the Securities and Exchange Commission of Pakistan (SECP) seeking a 30-day extension to hold its Annual Review Meeting, citing unforeseen circumstances and delays in the completion of its audit process. The request, dated October 6, 2026, highlights the difficulties faced by the company in finalizing its financial statements and completing necessary audit formalities within the originally prescribed timeline.

The application, filed under clause 12 of the consolidated circular S.R.O. 2310(1)/2022, seeks permission to postpone the meeting until November 27, 2026. The documents submitted to the SECP include an affidavit signed by the Company Secretary, a letter from external auditors M/s. Crowe Hussain Chaudhury & Co., and proof of the required fee payment amounting to Rs. 15,025.

According to information available from the Pakistan Stock Exchange (PSX), First Paramount Modaraba is a key player in the modaraba sector, operating under the designated market category of financial services. The company's external auditors have indicated that the completion of the audit is expected within four weeks, which is pivotal for the convening of the Annual Review Meeting.

The request for an extension underscores the procedural challenges faced by First Paramount Modaraba, particularly in aligning the audit completion with the timeline for holding the board meeting and securing approval for the financial statements. The company has expressed its intent to ensure compliance with regulatory requirements and has sought the SECP's approval to hold the meeting at the later date of November 27, 2026.