SC Merges TRG Shareholder, Chishti Defamation Case

Islamabad, August 28, 2025, 07:53 PM PKT — The Supreme Court of Pakistan has delivered a pivotal ruling, ordering the consolidation of shareholder disputes at PSX-listed TRG Pakistan with an ongoing appeal involving former CEO Zia Chishti’s defamation proceedings, as decided by a three-member bench led by Justice Hassan Azhar Rizvi, alongside Justices Nadeem Akhtar Afghan and Miangul Hassan Aurangzeb, per official reports. Justice Afghan probed Chishti’s past, questioning his US sexual misconduct liability and TRG exit, noting his defamation suit against non-resident directors via Sindh lower court summons.

After confirming Chishti’s identity across cases, the bench deemed consolidation critical to uncover mala fide intent behind his actions. Justice Aurangzeb sought details on shareholding structures, especially post a US arbitration loss where Chishti was ordered to pay $9.1 million. The shareholder dispute stemmed from a June 2025 Sindh High Court ruling canceling Bermuda-based Greentree Holdings (GTH) shares, blocking a $55 million tender and mandating elections, with the Supreme Court issuing a status quo order in June on GTH’s appeal. The defamation case, tied to the Jahangir Siddiqui Group, was suspended by Sindh High Court in 2023, remanded to lower courts, and halted by the Supreme Court in early 2025. The hearing is adjourned for three weeks. Web context on corporate disputes shows past complexities, while posts found on X reflect intrigue—some demand transparency, others question judicial scope. Critically, the narrative of “judicial clarity” may mask legal entanglements—web data hints at ongoing battles, and X sentiment suggests distrust in fair resolution, pointing to potential challenges.