Oct 14, 2026, 3:02 PM
Gulshan Spinning Mills remains non-operational as assets are sold under court-sanctioned scheme
Operations UpdateGulshan Spinning Mills reported that it remained non-operational during the quarter ended September 30, 2026. Under a Scheme of Arrangement sanctioned by the Sindh High Court, the company's assets are being sold by an Asset Sale Committee and sale proceeds distributed among secured creditors toward settlement of liabilities. No commercial production or business operations were carried out, and the company does not currently envisage resumption.
Key Findings
- The company remained non-operational throughout the quarter ended September 30, 2026.
- All company assets are being sold under a court-sanctioned Scheme of Arrangement to settle existing liabilities.
- Sale proceeds are distributed pari passu among secured creditors by the Agent Bank.
- No measures could be taken to commence or resume operations; the company does not currently envisage a resumption.
Disclosure Details
Entities Involved
Gulshan Spinning Mills Ltd., Asset Sale Committee, Agent Bank, Secured Creditors
Approvals Required
Disclosure
Impact
The company has no commercial production or business operations and is disposing of all assets to settle liabilities owed to secured creditors.
Risks
The company does not currently envisage commencement or resumption of commercial production or business operations., The company is non-operational and its assets are being sold to settle existing liabilities.
⚡
Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.