Karachi: The Securities & Exchange Commission of Pakistan (SECP) has issued an order concerning TRG Pakistan Limited, addressing a procedural default in the company’s annual return filings. The adjudication, finalized on September 11, 2025, concluded that the company violated Section 130 of the Companies Act, 2017, for failing to submit annual returns for the year 2022.

The issue was brought to attention by the company registration office in Karachi, prompting a Show Cause Notice to be issued on January 9, 2024. The notice demanded an explanation for the delayed filings, which the company was unable to provide before the stipulated deadline. The company secretary, appearing in person, acknowledged the lapse and cited the inability to hold Annual General Meetings (AGMs) for the years 2022 and 2023 as the reason for the delay.

In a written response dated January 17, 2024, TRG Pakistan Limited submitted that efforts were made to comply with Section 130 by filing the overdue annual return on September 20, 2023. The SECP adjudicating officer accepted this explanation, noting the absence of any records suggesting that the delay compromised stakeholder interests.

According to information available from the Pakistan Stock Exchange (PSX), the resolution of this matter has not resulted in any significant movement in TRG Pakistan Limited’s stock price. The company’s shares exhibited a minor move in the aftermath of the announcement.

The SECP has decided to condone the default, opting for leniency while warning the management against future lapses. The company is urged to adhere to statutory requirements to avoid similar situations. A record of the order will be maintained for future reference, and separate actions may be initiated for failure to convene AGMs as required under Section 132 of the Companies Act.