TRG CEO Zia Chishti Wins US Court Ruling in Cross-Border Legal Dispute
Former TRG Pakistan Limited (PSX: TRG) Chief Executive Officer Zia Chishti has secured a significant legal victory in his long-running dispute with The Resource Group International Limited (TRGI) and its affiliates after a United States court rejected an attempt to stop his legal proceedings in Pakistan.
In an order dated July 1, 2026, the US District Court for the Southern District of New York (SDNY) denied a motion filed by TRGI, TRG Pakistan Chairman Mohammed Khaishgi, CEO Hasnain Aslam, and TRG Pakistan Limited, collectively referred to as the “Resource Group,” seeking an anti-suit injunction against Chishti.
Judge Louis L. Stanton ruled that the applicants failed to satisfy the legal requirements necessary to prevent Chishti from pursuing litigation before Pakistani courts.
Dispute Centers on Pakistan Court Proceedings
The latest ruling stems from efforts by TRG Pakistan’s current management to stop Chishti from pursuing a criminal contempt petition before the Supreme Court of Pakistan.
According to court filings, Resource Group argued that Chishti’s legal action in Pakistan was prohibited under a release agreement signed on January 10, 2022.
However, Chishti maintained that his contempt petition sought to enforce Supreme Court orders issued on May 11, 2026, relating to earlier proceedings involving TRG Pakistan.
Those orders upheld a Sindh High Court decision directing TRG Pakistan to hold overdue board elections and requiring its affiliate Greentree to return shares that the court found had been acquired using TRG Pakistan’s own funds.
US Court Rejects Request for Anti-Suit Injunction
Judge Stanton applied the legal test governing anti-suit injunctions and concluded that Resource Group did not establish the necessary grounds for relief.
Although the court acknowledged sufficient overlap between the parties involved, it found that its earlier ruling issued on May 12, 2026, did not resolve the legal issues currently before Pakistani courts.
The court noted that claims concerning delayed board elections had never been addressed in the previous US proceedings.
It also found that allegations relating to Greentree’s acquisition of TRG Pakistan shares arose after the 2022 release agreement and therefore could not automatically be considered released claims.
As a result, the court declined to block the Pakistani litigation.
Court Questions Litigation Arguments
The SDNY order also included observations regarding the conduct of the litigation.
Judge Stanton stated that the court was led “to suspect” that previous US rulings had been inaccurately presented before Pakistani courts.
The order further observed that Resource Group waited more than a year before seeking emergency relief despite being aware that certain claims involving Greentree’s share acquisition fell outside the scope of the release agreement.
The court reiterated that anti-suit injunctions should be granted only in exceptional circumstances where foreign litigation substantially duplicates domestic proceedings, concluding that this standard had not been met.
Pakistan Proceedings to Continue
The ruling allows Chishti to continue pursuing proceedings before Pakistani courts, including the Sindh High Court case concerning TRG Pakistan’s board elections and the related contempt petition before the Supreme Court.
The SDNY also formally disposed of letters filed by TRG Pakistan supporting TRGI’s motion.
According to the information available, TRG Pakistan had not issued a corresponding disclosure to the Pakistan Stock Exchange (PSX) following the July 1 order at the time of reporting.
Latest Development in Ongoing Legal Battle
The decision represents the latest chapter in a complex cross-border legal dispute between Chishti and Resource Group.
Earlier this year, several SDNY rulings had favored TRGI, including a May 12 decision concerning pre-2022 claims, a temporary restraining order issued on June 10, and a June 18 turnover order directing Chishti to satisfy a $9.1 million judgment related to share pledges and asset transfers.
The July 1 ruling, however, marks a significant procedural victory for Chishti by allowing the Pakistani court proceedings to move forward while the broader legal dispute continues in multiple jurisdictions.