GUSM · Gulistan Spinning Mills Limited
Gulistan Spinning Mills Reports Non-Operational Status for Quarter Ended September 30, 2026
Official PSX filing title: PROGRESS REPORT FOR THE QUARTER ENDED 30-09-2026
- Filed
- 14 October 2026 at 3:04 pm
- Category
- Financials
- Sentiment
- Neutral
- Impact
- High
Executive summary
Gulistan Spinning Mills Ltd submitted its quarterly progress report for the period ended September 30, 2026, confirming that the company remains non-operational under a court-sanctioned Scheme of Arrangement. All assets are currently being sold under the supervision of an Asset Sale Committee to settle liabilities with secured creditors.
Key takeaways
- The company remained non-operational during the quarter ended September 30, 2026, with no commercial production or business operations carried out.
- Assets of the company are being sold under the supervision of the Asset Sale Committee pursuant to a Scheme of Arrangement sanctioned by the High Court of Sindh.
- Sale proceeds are being distributed by the Agent Bank among secured creditors on a pari passu basis for the settlement of existing liabilities.
- No measures were taken for the commencement or resumption of business operations during the quarter.
Filing details
Financial results
Quarterly · Unaudited
- Implementation of the Scheme of Arrangement under Section 279 of the Companies Act, 2017 for the sale of all assets and settlement of existing liabilities to secured creditors.
Dividend and entitlement
- Type
- None
- Notes
- The document is a progress report for the quarter ended 30-09-2026 and contains no dividend or entitlement announcements.
- #progress report
- #scheme of arrangement
- #non-operational
- #asset sale
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