TRG Pakistan Limited has told the Pakistan Stock Exchange (PSX) that a United States federal court has denied its request to block former Chief Executive Officer Zia Chishti from pursuing legal proceedings in Pakistan, marking another twist in the long-running dispute between the two sides.

In a stock filing, the company said the U.S. District Court for the Southern District of New York (SDNY) issued an order on July 1, 2026, refusing an injunction sought jointly by TRG Pakistan and The Resource Group International Limited (TRGI).

The application sought to restrain Chishti from continuing certain lawsuits filed in Pakistan against TRG Pakistan and related entities. The court also allowed a temporary restraining order, issued on June 10, to lapse without renewing it.

TRG Pakistan emphasized that the latest decision is limited to whether the legal requirements for an injunction were met and does not overturn the court’s earlier ruling dated May 12, 2026.

According to the company, that earlier judgment held that claims relating to events before the January 10, 2022 Release Agreement had been permanently released and cannot be pursued in any court worldwide. Chishti has already challenged that decision before the U.S. Court of Appeals for the Second Circuit, where the appeal remains pending.

The company said it is reviewing the latest order and considering an appeal before the same appellate court.

The litigation is part of a broader corporate dispute over the governance and control of TRG Pakistan. In May this year, Pakistan’s Supreme Court dismissed appeals against a Sindh High Court judgment, effectively restoring substantial voting rights to Chishti and significantly altering the company’s shareholder landscape.

Chishti, who co-founded TRG Pakistan in 2003, resigned from the company and its affiliated businesses in 2021 following allegations of sexual misconduct.

Since then, the parties have been engaged in multiple legal proceedings across Pakistan, the United States, and Bermuda involving shareholder rights, corporate governance, arbitration, and control of the company.