FAISALABAD – Sitara Chemical Industries Limited has issued a clarification regarding media reports claiming that its Chief Executive Officer has been named in a First Information Report (FIR) registered by the Federal Investigation Agency (FIA).
In a statement, the company said the allegations contained in the FIR primarily relate to the affairs and business activities of another company, which it stressed is not an associate company of Sitara Chemical Industries. It added that claims suggesting otherwise are factually incorrect.
The company further clarified that the FIR contains allegations only and that no court or competent authority has yet reached a final determination on the matter.
Sitara Chemical Industries and its CEO have categorically denied the allegations and said they will pursue all appropriate legal remedies to protect their rights and interests.
The company also emphasized that its manufacturing operations and business activities continue without interruption and that the matter has had no material adverse impact on its day-to-day operations.
