Ansari Sugar Mills Limited’s Annual General Meeting Delayed Pending Court Appeals

Karachi, Ansari Sugar Mills Limited is facing a delay in holding its Annual General Meetings due to ongoing court appeals. The company recently received a verdict from the Senior Civil Judge in Karachi (South) on two applications, namely Civil Suit # 579/2021 and 143/2020. The judge rejected the plaintiff’s plea in both cases, bringing some clarity to the legal proceedings.

However, until the date of the orders, which was December 23, 2021, the court had instructed all parties involved to maintain the status quo by virtue of a stay order. This decision has resulted in a subsequent appeal filed by the appellant with the Additional District Judge in Karachi South.

The next hearing for both appeals has been scheduled for May 26, 2023, indicating that the resolution of the legal dispute is still pending. As a consequence, Ansari Sugar Mills Limited is unable to proceed with its scheduled Annual General Meetings until the court appeals are resolved.