SECP moves Supreme Court against BRR Guardian merger scheme

According to Mettis Global, the Securities and Exchange Commission of Pakistan has challenged a Sindh High Court order at the Supreme Court. The order approved a compromise and reconstruction scheme linking B.R.R. Guardian Limited (PSX: BRRG) and BRR Financial Services (Private) Limited. The regulator's appeal, registered as JCM No. 34 of 2024, places that sanction under fresh legal review.

The High Court had sanctioned the scheme on May 12, 2026, concluding that every statutory step had been completed and that no major objections had surfaced. During proceedings, SECP's representative, Advocate Syed Hafiz Ebad-ur-Rehman, had pointed out that regulatory compliance would still be required after approval. The approval was granted on condition that further legal steps and formalities with the relevant authorities were completed.

The information reached the market through a notification to the Exchange. The filing adds uncertainty to the restructuring between the two entities.