Maqbool Textile Mills Seeks Extension for Financial Statement Submissions and AGM

Karachi: Maqbool Textile Mills Limited has applied for a 30-day extension to fulfill its statutory obligations under the Companies Act, 2017, citing the sudden illness of its Chief Financial Officer. The company is seeking additional time to hold its Annual General Meeting (AGM) and to present its financial statements for the year ending June 30, 2024, along with the accounts for the first quarter ending September 30, 2024.

The request, as stated in the application, is due to the inability to finalize the annual financial statements of June 30, 2021, within the legally prescribed period. This delay has made it impractical to compile and distribute the first quarter’s financial statements by the upcoming deadlines. According to information available from the Pakistan Stock Exchange (PSX), this is the first time Maqbool Textile Mills has sought such an extension since the company’s inception.

The company has officially requested the Registrar of Companies, the Commission, and the PSX to grant this 30-day extension. This would allow more time for the AGM to be conducted and for the necessary financial documents to be prepared and shared with company members.

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