Karachi: Trading in the shares of M/s. Nirala MSR Foods Limited will continue to be suspended, following non-compliance issues that remain unaddressed as stipulated by the Pakistan Stock Exchange regulations.

According to the latest notice issued by the Pakistan Stock Exchange (PSX) on August 21, 2024, under Notice No. PSX/N-814, the suspension is a direct consequence of several regulatory failures by Nirala MSR Foods Limited. The company has notably failed to conduct its Annual General Meetings and submit annual audited accounts, leading to this punitive action. Additionally, the non-payment of dues owed to the Exchange and a winding-up petition filed by the Securities and Exchange Commission of Pakistan (SECP) further complicates the company’s operational standing.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the suspension was made under the powers granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations. The suspension will persist until the company rectifies the causes of the suspension or until another period of 60 days, effective from October 21, 2024.

The financial community and investors are advised to note these developments for record purposes and future trading considerations.