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GUTM Operations Update: Gulistan Textile Mills remains non-operational as asset-sale scheme proceeds | Investify

Oct 14, 2026, 3:09 PM

Gulistan Textile Mills remains non-operational as asset-sale scheme proceeds

Operations Update

Gulistan Textile Mills reported that it remained non-operational during the quarter ended September 30, 2026. Under a court-sanctioned scheme of arrangement, the Asset Sale Committee is selling the company’s assets and distributing proceeds among secured creditors on a pari passu basis. No measures were taken to resume operations, and the company does not currently envisage restarting commercial production or business operations.

Key Findings

The company remained non-operational throughout the quarter ended September 30, 2026.
The High Court of Sindh at Karachi sanctioned a scheme of arrangement under Section 279 of the Companies Act, 2017.
The Asset Sale Committee has commenced selling company assets, with proceeds distributed among secured creditors for settlement of the company’s financial obligations.
No measures were taken to commence or resume commercial production or business operations.
The company does not currently envisage resuming operations; future options remain subject to regulatory approvals and resource availability.

Disclosure Details

Entities Involved

Gulistan Textile Mills Ltd., Asset Sale Committee, Agent Bank, Secured Creditors, High Court of Sindh at Karachi

Approvals Required

Future strategic options are subject to regulatory approvals and availability of resources.

Impact

The company has no assets remaining from which to conduct business as assets are being sold to settle existing liabilities; it does not currently envisage resumption of operations.

Risks

The company remains non-operational and does not currently envisage restarting commercial production or business operations., The scheme’s implementation and any future strategic options depend on regulatory approvals and resource availability.

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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.

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Gulistan Textile Mills remains non-operational as asset-sale scheme proceeds

Key Findings

Disclosure Details