- September 2, 2026
- Posted by: Tresmark
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The Securities and Exchange Commission of Pakistan (SECP) has intensified its investigation into suspected insider trading and unusual transactions involving shares of Unity Foods Limited, a company listed on the Pakistan Stock Exchange (PSX).
The regulator has issued final notices to four individuals, including Unity Foods Chief Executive Officer Muhammad Farrukh, directing them to appear before the SECP investigation team on September 3.
The other individuals summoned are Safdar Sajjad, Fahmida Amin and Hina Safdar. According to the notices, the SECP is seeking explanations and supporting records concerning their transactions in Unity Foods shares.
Muhammad Farrukh has also been asked to provide complete details of Unity Foods shares pledged with banks, while Sajjad, Amin and Hina Safdar have been directed to explain their purchases and sales of the company’s shares and submit relevant trading records and documentation.
The individuals had previously been summoned to appear before the investigation team on August 31 but failed to attend. The SECP subsequently issued final notices requiring their appearance.
The formal investigation was initiated on June 2 under Section 139 of the Securities Act, 2015, focusing on unusual trading patterns in Unity Foods shares and potential breaches of securities laws.
The probe comes shortly after the Federal Investigation Agency (FIA) registered a criminal case against former management of Unity Foods over alleged financial irregularities. The case reportedly involves discrepancies of around Rs44.7 billion between the company’s published financial accounts and its internal records, following an earlier SECP investigation.
Unity Foods was incorporated in Pakistan in 1991 as a private limited company and was converted into a public limited company the same year. The company originally operated in the textile sector under the name Taha Spinning Limited before financial difficulties and operating losses prompted a shift toward edible oil extraction, refining and related businesses.
