Karachi: The Pakistan Stock Exchange (PSX) has announced the continued suspension of trading in the shares of M/s. Dewan Khalid Textile Mills Limited. This follows previous notifications, including PSX Notice No.PSX/N-214 dated February 25, 2025, addressing the company's non-compliance with specific regulatory clauses.

The textile company has yet to address several issues leading to the suspension, including halted commercial production and business operations in its primary line of business. Furthermore, Dewan Khalid Textile Mills Limited has not conducted its Annual General Meetings or submitted its annual audited accounts. It has also failed to settle dues owed to the Exchange. Additionally, the company's statutory auditor has issued an adverse opinion in its audit report. Compounding these issues, a winding-up petition against the company has been ordered by the Commission, and creditors have filed a similar petition in court.

According to information available from the Pakistan Stock Exchange (PSX), trading will remain suspended until the company rectifies these issues or for an additional period of 60 days starting April 27, 2025. This decision is made under the authority granted by Sub-Section (7) of Section 19 of the Securities Act, 2015, and clause 5.11 of the PSX Regulations.

Dewan Khalid Textile Mills Limited is categorized under the textile industry within the designated market category. The company’s continued non-compliance poses significant challenges to its operational and financial recovery, as reflected in the ongoing suspension of its trading activities on the PSX.