Karachi: In a formal disclosure to the Pakistan Stock Exchange, Millat Tractors Limited has categorically denied allegations regarding any legal action against its CEO or the company itself, as reported in a recent article by the "Business Recorder". This announcement aims to clarify misinformation and reaffirm the company's standing.

According to the details released by Millat Tractors Limited under the regulations stipulated in Sections 96 and 131 of the Securities Act, 2015, as well as Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited, the company has addressed claims of a court case involving its CEO in the court of Special Judge, Customs and Excise Taxation, Karachi. The company stated, "This news is fabricated and bereft of facts. There is no FIR lodged neither in the name of the CEO of tractor manufacturing company or the tractor manufacturing company."

According to information available from the Pakistan Stock Exchange (PSX), the tractor manufacturer emphasized that the allegations were part of a "malicious campaign with malafide intent." The company has taken this opportunity to communicate directly with its stakeholders, particularly the Certificate Holders of the Exchange, to prevent any potential misunderstanding or disruption caused by these unfounded allegations.

Millat Tractors Limited remains committed to maintaining transparency with its investors and ensuring that all communications are accurate and based on verifiable facts.