For breaking the terms of a legally binding agreement, The Resource Group International Limited (TRG International) has filed a lawsuit against its former CEO Zia Chishti and his wife.
In the case of enabling questionable transactions for the former director of the company and his wife, it also covered commercial banks and brokerage firms.
As per a stock filing, TRG international has filed suit no.19 of 2023 before the Sindh High Court (SCH) against the following: JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited, DJM Securities Limited, Muhammad Ziaullah Khan Chishti (Zia Chishti), Sarah Jennifer Pobereskin (Zia Chishti’s wife).
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The lending agreements made by Zia Chishti and Sarah Jennifer Pobereskin with JS Bank Limited, JS Global Capital Limited, Bank AL Habib Limited, and DJM Securities Limited, according to RG International, are in contravention of Zia Chishti’s stock purchase agreement, which forbids him from transferring or encumbering any shares of TRG Pakistan that he directly or indirectly owns.
The SHC issued a stay order to TRG International, and the case will now resume at the ensuing hearing.
