World

Jaipur Fabric Came Forward with a Noble Cause- Giving FREE Face Mask with Each Order

Published

5 years ago

March 29, 2020

Today, the threat of Coronavirus pandemic is gradually increasing across the globe, and India is no different. The cases are growing, taking the country to Stage 3. Jaipur Fabric took a great initiative to support people in maintain self-quarantine and social distancing to stop spreading this pandemic virus and keep the country safe from unexpected disasters.

FREE Mask with Each Order

Jaipur Fabric will dispatch one face-mask with every order you make. Wearing a mask is essential not only to protect you from getting infected as well as necessary for people to maintain self-hygiene. If you already have a mask for protection, you can give it to someone in need and contribute to this giant step of Lockdown by the Government of India. With this noble cause, we are spreading awareness among people to stay in isolation for the coming few weeks and protect others from getting infected. Dispatching free face-mask also gives us the opportunity to help those who don’t have the safety resources and spread knowledge that social distancing and self-isolation at present the only precaution to stay away from Coronavirus.

It’s Time to Serve the Nation

For the betterment of our nation and break the chain of Coronavirus positive patients, we should practice self-quarantine and stay indoors. This way, you won’t only keep yourself healthy till the pandemic cases are brought down to zero, but also safeguard our economy.

Better we fight against this virus, sooner we can come on the roads to bring our lives on a normal track and start building a great nation ahead. Till then, it’s essential to follow the rules of our Prime Minister and stay home and keep intense care to your health.

BIG Thanks to Those who are on Frontline

When we are isolating our self at home, many others are on the frontline serving the patients and helping us to ensure no primary service is halted during the lockdown. With this noble cause of dispatching a FREE face-mask, we want to thank the doctors, nurses, paramedics, police, railway workers, grocery suppliers, banking personnel, pilots, and rubbish collectors who are still in action to ensure you don’t face any trouble and working for a coronavirus-free nation.

Order From Widest Range of Home Décor items

Jaipur Fabric is a renowned eCommerce platform offering the most extensive range of home furnishing items right from the craftsmanship of experts. We have brought you the real heritage-rich fabric right from the roots of Rajasthan that will last longer without declining in its beauty and quality.

It has a colossal of Jaipur Fabricated bed sheets, cushion covers, curtains, dohars, and many other home decor items. You can choose your favorite item and make an order from the heart of Jaipur.

Together we stand and spread awareness; together, we win the battle against this pandemic disease. Let’s come forward to take this initiative and start from self-care.

Stay Indoor Stay Safe & Order Online Today!

World

TRG Chairman Khaishgi and CEO Aslam implicated in $150 million fraud

Published

7 days ago

June 23, 2025

Jenny Jackson

In a scathing 52-page decision, the Sindh High Court has found that TRG Pakistan’s management was acting fraudulently and that Bermuda-based Greentree Holdings historic and prospective purchase of TRG shares were illegal, fraudulent and oppressive.

The Sindh High Court has further directed TRGP to immediately hold board elections that have been overdue and illegally withheld by the existing board since January 14, 2025.

In the landmark ruling, the Sindh High Court has blocked the attempted takeover of TRG Pakistan Limited by Greentree Holdings, declaring that the shares acquired by Greentree, nearly 30% of TRG’s stock, were unlawfully financed using TRG’s funds in violation of Section 86(2) of the Companies Act 2017.

“Having concluded that the affairs of TRGP are being conducted in an unlawful and fraudulent manner and in a manner oppressive to members such as the Petitioner (Zia Chishti), the case falls for corrective orders under sub-section (2) of section 286 of the Companies Act,” Justice Adnan Iqbal Chaudhry concluded.

The case was brought by TRGP former CEO and founder Pakistani-American technology entrepreneur Zia Chishti against TRG Pakistan, its associate TRG International and TRG International’s wholly-owned shell company Greentree Limited. In addition, the case named AKD Securities for managing Greentree’s illegal tender offer as well as various regulators requiring that they act to perform their regulatory duties.

The case centred around the dispute that shell company Greentree Limited was fraudulently using TRG Pakistan’s own funds to purchase TRG Pakistan’s shares in order to give control to Zia Chishti’s former partners Mohammed Khaishgi, Hasnain Aslam and Pinebridge Investments.

According to the case facts, the Chairman of TRG Pakistan Mohammed Khaishgi and the CEO of TRG Pakistan Hasnain Aslam masterminded the $150 million fraud. They did so together with Hong Kong based fund manager Pinebridge who has two nominees on TRG Pakistan’s board, Mr. John Leone and Mr. Patrick McGinnis.

According to the court papers, Khaishgi, Aslam, Leone, and McGinnis set up a shell company called Greentree which they secretly controlled and from which they started buying up shares of TRG Pakistan. The fraud was that Greentree was using TRG Pakistan’s funds itself. The idea was to give Khaishgi, Aslam, Leone, and McGinnis control over TRG Pakistan even though they owned less than 1% of the company, lawyers of the petitioner told the court.

This was all part of a broader battle for control over TRG Pakistan that is raging between Khaishgi, Aslam, Leone, and McGinnis on one side and TRG Pakistan founder Zia Chishti on the other side. Zia Chishti has been trying to retake control of TRG Pakistan after he was forced to resign in 2021 based on sexual misconduct allegations made by a former employee of his. This year those allegations were shown to be without basis in litigation that Chishti launched in the United Kingdom against The Telegraph newspaper which had printed the allegations. The Telegraph was forced to apologize for 13 separate articles it published about Chishti and paid him damages and legal costs.

After Chishti resigned in 2021, Khaishgi, Aslam, Leone, and McGinnis moved to take total control over TRG Pakistan and its various subsidiaries including TRG International and to block out Chishti. The Sindh High Court’s ruling today has reversed that effort, ruling the scheme fraudulent, illegal, and oppressive.

It now appears that Zia Chishti will take control of TRG Pakistan in short order when elections are called. He and his family are now the largest shareholders with over 30% interest. He is closely followed by companies related to Jahangir Siddiqui & Company which have over a 20% interest. The result appears to be a complete vindication for Zia Chishti and damning for his rivals Aslam, Khaishgi, Leone, and McGinnis who have been ruled to have been conducting a fraud.

TRG Pakistan’s share price declined by over 8% on the news on heavy volume. Market experts say that this was because the tender offer at Rs 75 was gone and that now shares would trade closer to their natural value. Presently the shares are trading at Rs 59 per share.

According to the court ruling, since 2021, shell company Greentree had purchased approximately 30% of TRG shares using $80 million of TRG’s own money, which means that that the directors of TRG Pakistan allowed company assets to be funneled through offshore affiliates TRG International and Greentree for acquiring TRG’s shares – a move deemed both fraudulent and oppressive to minority shareholders. The Sindh High Court also found illegal Greentree’s further attempt to purchase another 35% of TRG shares using another $70 million of TRG’s money in a tender offer.

The ruling is a major victory for the tech entrepreneur Zia Chishti against his former partners and the legal ruling paves the way for him to take control of TRG in a few weeks.