Pakistan Hotels Developers Limited (PHDL) clarified on Wednesday that it was in the process of preparing financial statements for the year ended 30 June 2025.
PHDL shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
“The liquidators of the company would like to bring to your kind attention toward the road map of winding-up, which was initiated on December 31, 2024, after passing of a special resolution in the general meeting of members and as per the Companies Act 2017,” the notice read.
It added that the company was required to complete the winding-up proceedings, including payment of all its debts, taxes and liabilities and settlement of all cases pending in the court of law by the end of December 2025.
“If the winding up process is not completed within the given time due to some or the other reasons beyond the control of the company, then the company will apply to the High Court of Sindh for further extension of twelve month time for unresolved matters on the grounds and facts to the satisfaction of the Court,” the PHDL shared.
The company added that the process of payment of liabilities and final tax audits will be initiated after the submission of audited financial statements for the year ended 30 June 2025 to revenue authorities.
PHDL was incorporated as a private limited company in Pakistan in 1979 as Taj Mahal Hotels Limited. It was converted into a public limited company in 1981.
The principal activity of the company was the hotel business.
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