SC dismisses 3 appeals filed by GTH, others against SHC verdict

ISLAMABAD: The Supreme Court dismissed three appeals filed by Greentree Holdings Limited (GTH) and others against a judgment of the Sindh High Court (SHC). A three-judge bench, headed by Justice Naeem Akhtar Afghan and comprising Justice Muhammad Shafi Siddiqui and Justice Miangul Hassan Aurangzeb, on Monday announced a short order of its judgment reserved on 3rd February against the SHC order. The bench directed that the appellants would jointly bear the legal costs of respondent No. 1 (Chishti) The SC short order, authored by Justice Miangul, cleared the way for Zia Chishti, founder of an outsourcing and technology firm TRG Pakistan (TRGP), to regain influence over the company he resigned from five years ago over sexual harassment allegations. Chishti had resigned from the company in late 2021 upon disclosure in US Congressional testimony of an arbitration award against him for sexual misconduct. The Sindh High Court on June 20, 2025, had allowed an application of former TRG CEO Muhammad Ziaullah Khan Chishti to be filed under company laws. It held that GTH shares were the property of the private equity firm, the Resource Group Pakistan (TRGP). In its order on June 20, 2025, the SHC had ruled that shares held by GTH in TRGP (the respondent) were the property of TRGP, and would be deemed to have been purchased by the latter from its shareholders. The court had also ordered TGRP’s Board of Directors to issue notice for an extraordinary general meeting of the company immediately to elect directors, adding that the new board of directors would decide whether to retain or cancel these treasury shares after the elections. The SC, in its short order, granted leave to appeal in “C.P.L.A. No.2543/2025 titled ‘Greentree Holdings Limited, Hamilton HM11, Bermuda v. Muhammad Ziaullah Khan Chishti, etc.’; C.P.L.A. No.871-K/2025 titled ‘The Resource Group International Limited (TRGI) v. Muhammad Ziaullah Khan Chishti, etc.’; and C.P.L.A. No.872-K/2025 titled ‘The Resource Group Pakistan Limited (TRGP) v. Muhammad Ziaullah Khan Chishti, etc.’”. “The petitions are converted into appeals, which are all dismissed. The appellants shall jointly and severally bear the respondent No.1’s costs in the said appeals,” said the short order, authored by Justice Aurangzeb. Copyright Business Recorder, 2026

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