Supreme Court Dismisses Appeals in TRG Shares Dispute

The Supreme Court of Pakistan on Monday dismissed three appeals filed by Greentree Holdings Limited and others against a ruling of the Sindh High Court in the TRG Pakistan shares dispute case.

According to media reports, a three-member bench headed by Justice Naeem Akhtar Afghan and comprising Justice Muhammad Shafi Siddiqui and Justice Miangul Hassan Aurangzeb announced the short order after reserving judgment on February 3.

The short order, authored by Justice Miangul Hassan Aurangzeb, converted the petitions into appeals before dismissing all of them.

“The appellants shall jointly and severally bear the respondent No.1’s (Chishti) costs in the said appeals,” the order stated.

The ruling effectively clears the way for Muhammad Ziaullah Khan Chishti to regain influence in TRG Pakistan, the outsourcing and technology company he stepped down from in 2021 following disclosures made in US Congressional testimony relating to an arbitration award tied to sexual misconduct allegations.

The Sindh High Court had earlier ruled on June 20, 2025, that shares held by Greentree Holdings Limited in TRG Pakistan constituted the property of TRG Pakistan and would be treated as treasury shares purchased by the company from its shareholders.

The high court had also directed TRG Pakistan’s board to immediately issue notice for an extraordinary general meeting for election of directors, with the newly elected board authorised to determine whether the treasury shares should be retained or cancelled.

The Supreme Court had granted leave to appeal in three separate petitions filed by Greentree Holdings Limited, The Resource Group International Limited and TRG Pakistan before dismissing them through the short order announced on Monday.