Zia Chishti Regains Control of TRG Amid Legal Turmoil
Mutiny on the TRG bounty

Image: Dawn
Zia Chishti, founder of The Resource Group (TRG), has regained control of the company following a court ruling in Pakistan. His journey from tech entrepreneur to facing allegations of misconduct and subsequent legal battles highlights the complexities of corporate governance and shareholder rights, culminating in a Supreme Court decision that dismissed appeals against him.
- 01Zia Chishti founded TRG in 2003 after his success with Invisalign, later creating a second unicorn with Afiniti valued at $1.7 billion.
- 02Allegations of sexual misconduct in 2019 led to Chishti's resignation from various boards, triggering a power struggle within TRG.
- 03The TRG board's decision to withhold $175 million from shareholders sparked multiple lawsuits and claims of insider trading and shareholder abuse.
- 04On May 20, 2025, the Sindh High Court ruled against the actions of Greentree Holdings, ordering the return of funds and the holding of elections.
- 05In May 2026, the Supreme Court upheld the lower court's ruling, dismissing appeals from Chishti's opponents and ordering them to cover his legal costs.
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Zia Chishti, the founder of The Resource Group (TRG), has successfully regained control of the company following a tumultuous legal battle that began with allegations of misconduct in 2019. Chishti, who previously built a fortune through the invention of Invisalign and the establishment of TRG and its international counterpart, faced significant challenges after allegations of violent sexual misconduct surfaced, leading to his resignation from various boards. This left the company vulnerable to a power struggle among its directors.
The board's decision to withhold $175 million from shareholders, stemming from the sale of a subsidiary, ignited a series of lawsuits alleging insider trading and shareholder abuse. In a significant ruling on May 20, 2025, the Sindh High Court invalidated the actions of Greentree Holdings, a vehicle created to manage TRG's funds, and mandated the return of the withheld money along with the holding of elections.
Chishti's opponents appealed this decision, but the Supreme Court ultimately upheld the lower court's ruling in May 2026, dismissing all appeals and ordering the anti-Chishti group to pay his legal costs. This saga underscores the intricate dynamics of corporate governance and the protection of shareholder rights within the context of Pakistani law.
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The court's ruling impacts shareholders of TRG by ensuring they receive their rightful financial benefits and reinforces corporate governance standards in Pakistan.
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