Pakistan Hotels Developers Limited (PHDL) has issued an official notification addressing shareholder concerns regarding the company’s ongoing winding-up process. The liquidation process, which began on December 31, 2024, follows the approval of a Special Resolution passed in the company’s General Meeting.
As per the Companies Act, 2017, PHDL aims to complete its winding-up proceedings by December 2025, which includes the settlement of debts, taxes, liabilities, and the resolution of any ongoing court cases.
The company’s liquidators have clarified that while the goal is to conclude the liquidation within the designated timeframe, unforeseen delays may occur. In such an event, PHDL plans to request a twelve-month extension from…