TRG International Announces Major Share Transfer Action
Enforcement Proceedings For Unpaid Arbitration Award also Underway in the United States and Pakistan.
On a significant note, TRG International has recently revealed that the Bermuda Supreme Court ordered the transfer of all shares held by its former Chairman, Zia Chishti. This decision aims to ensure that outstanding financial obligations related to arbitration are met. Given the circumstances, this action is a noteworthy development for the company.
Details of the Court Order
The order, which took effect on January 19, has planned the relinquishing of shares to a receiver appointed by the court. The funds generated from the sale of these shares will be allocated to pay an arbitration award exceeding $9 million. This award arose from a pledge of TRG Pakistan Limited shares that were used as security for a loan from JS Bank.
Background of the Arbitration Award
In April, 2025, an arbitration ruling was made against Mr. Chishti for failing to meet his contractual obligations regarding the pledged shares. Following this, the court in Bermuda recognized this award on July 4, 2025, disregarding subsequent objections raised by Mr. Chishti in October of the same year.
Enforcement in Multiple Jurisdictions
In addition to the proceedings in Bermuda, TRG International is actively pursuing the enforcement of the arbitration award across different jurisdictions, including the U.S. and Pakistan. These actions target assets belonging to Mr. Chishti, which notably include shares in TRG Pakistan Limited that is listed on the Pakistan Stock Exchange.
U.S. and Pakistan Court Involvements
The U.S. District Court for the Southern District of New York confirmed the arbitration award in June 2025. More recently, in January 2026, the court assessed that Mr. Chishti had transferred assets with an intention to defraud TRG International post-award issuance. Consequently, the parties involved in these transfers have paid significant amounts toward Mr. Chishti’s creditors, sums nearing $1.2 million.
In Pakistan, the enforcement proceedings were initiated on May 3, 2025, within the distribution of assets across the country. The pertinent ruling from Pakistan's Sindh High Court is expected, following the conclusion of hearings held on November 3, 2025.
TRG International's Commitment to Governance
As a global technology holding company, TRG International dedicates itself to nurturing and expanding business ventures centered around technology-enabled services. Positioned as a supportive ecosystem, the company employs around 40,000 individuals worldwide, embodying a robust commitment to effective governance amid these enforcement actions.
Focus on Sustainable Development
TRG International emphasizes a strategic approach to sustainable business development. This not only promotes corporate growth but also fosters well-structured practices that benefit all stakeholders associated with its vast global portfolio.
Frequently Asked Questions
What triggered the court-ordered transfer of shares?
The transfer was ordered due to Zia Chishti's failure to meet a significant arbitration award related to pledged shares.
What is the amount of the arbitration award?
The arbitration award is over $9 million related to an unlawful pledge of shares.
In which courts are enforcement proceedings occurring?
Enforcement proceedings are ongoing in both the United States and Pakistan, targeting assets owned by Mr. Chishti.
What role does TRG International play in the matter?
TRG International initiated the legal proceedings to enforce the arbitration award and reclaim debts owed.
How many employees does TRG International have globally?
TRG International supports approximately 40,000 employees in various technology-enabled services.
