Released claims: Zia Chishti restrained from pursuing litigation at any forum till July 1

TRG Pakistan Limited on Friday stated that it has received a copy of an order issued on 10 June 2026 by the United States District Court for the Southern District of New York restraining the company’s former CEO Zia Chishti from pursuing litigation in any forum based on conduct alleged in the released claims, defined as those claims released in the SDNY ruling issued on 12 May 2026.

“The order will remain in effect until 1 July 2026,” the notice sent by TRG Pakistan to the Pakistan Stock Exchange (PSX) stated.

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“The SDNY has directed further briefing from the parties and is expected to consider whether additional injunctive relief should be granted. This order follows the 12 May ruling which stated that claims by Chishti against the company and its affiliates relating to actions undertaken prior to the 10 January 2022 date of the Release Agreement are forever released and cannot be adjudicated in any forum worldwide.

“Many of the Released Claims formed the basis of various litigation proceedings initiated by Chishti against the company and its affiliates in multiple forums, including a petition (JCM 12 of 2025) for shareholder oppression in the Sindh High Court. The SDNY Order added that it had also previously preliminarily enjoined Chishti from asserting claims filed in a US arbitration in Pakistani litigation and stated that the same reasoning applies in this case. The Company is reviewing its legal options in light of this development,” TRG Pakistan added in the notice.

On May 12, the United States District Court for the Southern District of New York held that the Release Agreement barred seven claims asserted by defendant Chishti in JAMS, according to a court order, a copy of which is available with Business Recorder.

The Resource Group International Limited, TRG Pakistan Limited, Mohammed Khaishgi, and Hasnain Aslam – the plaintiffs – moved by letter for an emergency order enjoining Chishti from pursuing the released claims in Pakistani courts.

The court previously preliminarily enjoined Chishti from asserting his JAMS claims in Pakistani litigation. That order held that if the Release Agreement barred Chishti’s claims, then he would be prohibited from bringing them in any forum, including Pakistan.

“This order will remain in effect until July 1, 2026. Chishti is directed to respond to TRG’s letter motion by June 17, 2026. TRG may reply by June 24, 2026,” it added.