The Supreme Court of Pakistan (SC) on Monday dismissed appeals filed by TRGP and Green Tree Holding Company, while upholding a Sindh High Court (SHC) ruling ordering elections for the board of directors of TRG Pakistan.
According to the 24NewsHD TV channel, the apex court issued a short order following a hearing conducted by a three-member bench headed by Justice Naeem Akhtar Afghan.
The court stated that a detailed judgement would be released at a later stage.
The Supreme Court also directed that all litigation expenses incurred during the case should be paid by the company.
Earlier, the Sindh High Court had ordered elections for the directors of TRGP and ruled that action should be taken against directors accused of purchasing shares using company funds in order to vote for themselves.
The Supreme Court’s decision effectively leaves the high court ruling intact, paving the way for the election process to move forward.
The Resource Group Pakistan, commonly known as TRG Pakistan, is a Pakistani venture capital firm specialising in investments in business process outsourcing, technology, and telecommunications companies.
