Sindh High Court Prevents Sale of Clover Pakistan Ltd

The Sindh High Court has restrained the sale of Clover Pakistan Limited (PSX: CLOV) to Sindh Bank Limited, CLOV informed the main bourse today. “Our parent company Fossil Energy (Pvt) Limited has conveyed that the Honorable Sindh High Court has granted a stay order restraining the sale of shares of Clover Pakistan Limited, which were pledged with Sindh Bank Limited,” the company said in the stock filing. “Defendants are restrained from the sale of the plaintiff’s shares in Clover Pakistan Limited, or any of the plaintiff’s properties,” the court order briefly stated. The principal business of the Company includes the sale of food products, consumer durables, chemicals, and lubricants, and also import & trade of gantry equipment’s air/oil filters and other car care products. The Company is also involved in marketing & distribution and after-sales support of office automation products, fuel dispensers, vending machines, and digital screens.