The Sindh High Court (SHC) has ordered a fresh hearing of multiple petitions related to the Karachi Cotton Exchange Building case, a dispute involving ownership and the sealing of the historic property. The court directed that seven previously heard petitions, along with three newly filed ones, be heard together to ensure a consistent and comprehensive decision.
A two-member constitutional bench, comprising Justice Adnan-ul-Karim Memon and Justice Zulfiqar Ali Sangi, issued the directive, noting that similar petitions are already pending before another constitutional bench. The move aims to prevent conflicting rulings and streamline judicial proceedings.
The court has scheduled the rehearing for April 20, 2026, and ordered that all interim relief granted earlier will remain in place until the next hearing. This includes restraining actions against concerned parties based on ongoing legal disputes.
The case originates from the sealing of the Karachi Cotton Exchange Building on December 12, 2025, following action by the Federal Investigation Agency (FIA) and the Evacuee Trust Property Board (ETPB). Authorities had declared the building as federal trust property and registered an FIR alleging the use of forged documents in ownership claims.
In response, the Karachi Metropolitan Corporation (KMC), the Karachi Cotton Association, and other stakeholders challenged the legality of the action in court. Petitioners argued that the FIA and ETPB lacked authority under provincial law enacted in 2019, raising important constitutional questions regarding jurisdiction.
Further complexity was added when new petitions were filed challenging notices issued under the Anti-Money Laundering Act (AMLA) 2010, through which banking records were sought. The court has also summoned senior FIA officials to clarify their actions.
The case has become a significant legal matter involving property rights, jurisdictional authority, and procedural fairness. The upcoming hearing is expected to play a crucial role in determining the future of the disputed property and related legal proceedings.
