TRG Pakistan stated on Friday that a US federal court had refused to extend an order preventing former CEO Zia Chishti from pursuing litigation against the company and its affiliates in Pakistan, while stressing that a separate ruling enforcing a release agreement remains effective despite an ongoing appeal.
In a notice to the Pakistan Stock Exchange (PSX), the company informed that it received a copy of an order issued on 1 July 2026 by the United States District Court for the Southern District of New York (SDNY), where the SDNY has declined to grant the injunctive relief requested by the TRG Pakistan and The Resource Group International Limited after the temporary restraining order against former TRG Pakistan CEO Zia Chishti, received on 10 June 2026, expired on 1 July 2026.
“The requested injunctive relief included enjoining certain litigation proceedings initiated by Chishti in Pakistan against the company and its affiliates,” read the notice.
TRG Pakistan shared that SDNY’s order is limited to the company’s request for injunctive relief under the legal standard relevant to such injunctions and does not alter the 12 May 2026 ruling of SDNY, which concluded 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”.
TRG Pakistan said that the 12th May ruling remains in effect and has been appealed by Chishti in the Second Circuit Court of Appeals in New York.
“The company continues to review its legal options in light of this development, including appealing the order with the Second Circuit Court of Appeals in New York.”
Disclaimer: A board member associated with Business Recorder also serves on the board of TRG. All opinions remain independent.
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