Karachi: Gulshan Spinning Mills Ltd, a non-operational entity under a Scheme of Arrangement sanctioned by the High Court of Sindh at Karachi, continued to remain inactive during the quarter ending September 30, 2025. According to information available from the Pakistan Stock Exchange (PSX), the company has been selling its assets to settle liabilities under the court-approved scheme.

The scheme, sanctioned under Section 279 of the Companies Act, 2017, involves the sale of all company assets to address existing liabilities. The Asset Sale Committee has overseen this process, distributing proceeds among secured creditors on a pari passu basis. As of the latest quarter, no commercial production or business operations have resumed, with all efforts concentrated on fulfilling the scheme's terms.

Quarterly progress reports, submitted via PUCARS, continue to indicate the non-operational status of the company. Despite the ongoing asset liquidation, no steps have been taken towards restarting commercial production or operations. The company has assured compliance with regulatory timelines for future reports under PSX Regulation 5.11.1(b).

Gulshan Spinning Mills Ltd does not currently foresee a resumption of operations or production. Strategic evaluations for the future are contingent upon regulatory approvals and resource availability. Any significant developments will be communicated to the market following applicable laws and PSX regulations.