Karachi: Silkbank Limited has been granted an additional 30 days by the Islamabad High Court to request regulatory extensions for the publication of its pending annual accounts and the convening of its Annual General Meeting (AGM) for the fiscal year ended December 31, 2021. This development follows a series of legal deliberations stemming from a previously adjourned court decision.

The court's decision came after extensive discussions held during the hearing on September 12, 2024. Initially, the court had adjourned the matter on August 8, 2024, which pertained to the extension of the AGM's scheduling. According to information available from the Pakistan Stock Exchange (PSX), this legal progression follows Silkbank's communication through letter No CS-040/PSX/2024 dated August 15, 2024, which first informed the PSX of the court's initial adjournment.

With the latest court ruling, Silkbank is now poised to engage with financial regulators to formally request the necessary extensions. These discussions are crucial for the bank to finalize and publish its overdue financial statements and to organize the required AGM. The stakeholders of the bank, particularly the certificate holders of the Exchange, are expected to be updated on these regulatory interactions and their outcomes.