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Wilmar says it never consented to Unity Foods board control, still seeks winding up

Mettis Global • • 1 min read

Wilmar says it never consented to Unity Foods board control, still seeks winding up

Wilmar Pakistan Holdings has asked the Sindh High Court to clarify its October 30 order concerning Unity Foods, saying it did not agree to board appointments that could give Wilmar’s group a majority. The company also wants the court to pause appointments until November 18, when its request for a provisional manager is due to be heard, according to Mettis Global.

Wilmar’s main petition seeks Unity Foods’ winding up, while it says a provisional manager is needed to address financial records, assets and liabilities, and investigations by the SECP and FIA. The October 30 order had directed the filling of board vacancies under SECP directions and recorded that the parties consented. Wilmar disputes that account and says filling vacancies would not resolve the grounds for its other applications.

At a glance

  • Wilmar disputes consenting to board appointments that could give its group a majority.
  • It seeks to delay appointments until the provisional manager application is heard on November 18.
  • Wilmar’s petition seeks Unity Foods’ winding up.

Stocks in this story

Sectors:Food & Personal Care Products

Originally reported by Mettis Global

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