The Securities and Exchange Commission of Pakistan has accelerated its investigation into alleged insider trading and unusual transactions in Unity Foods shares. The regulator issued final notices to four individuals after they missed an earlier appearance.
The notices cover Muhammad Farrukh Amin Godil, Safdar Sajjad, Fahmida Amin and Hina Safdar. Investigators have ordered all four to appear personally on September 3 with their trading records and supporting documents.
Reports described Farrukh as Unity Foods’ chief executive. However, the company’s website says he served as CEO until December 2025 and now holds a non-executive director’s seat.
Records sought over share transactions
The SECP team wants complete information about dealings in Unity Foods shares. It also seeks explanations for transactions investigators consider unusual.
Investigators asked Farrukh to provide the full record of Unity Foods shares pledged to banks. The requested material is expected to identify the relevant banks, pledged holdings and supporting transaction documents.
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Safdar Sajjad, Fahmida Amin and Hina Safdar must explain their purchases and sales of Unity Foods shares. They must also submit the associated trading records and evidence supporting those transactions.
The four did not appear before the investigation team when called through the initial notices. They failed to attend on August 31. The regulator then issued final notices and set September 3 as the new appearance date.
The notices form part of an evidence-gathering process. They do not establish that insider trading or another securities offence occurred. The regulator has not announced any final findings.
Investigation underway since June 2
SECP formally opened the Unity Foods share-trading investigation on June 2 under Section 139 of the Securities Act, 2015. The provision allows an investigator to require records, seek explanations and compel personal attendance during a securities inquiry.
The investigation focuses on unusual share trading and possible violations of Pakistan’s securities laws. The regulator will examine the requested documents and responses before deciding whether the evidence warrants enforcement action.
Unity Foods trades on the Pakistan Stock Exchange under the symbol UNITY. The company produces edible oils and other food products. Its share price stood at Rs9.29 at 11:49am on September 2, up 1.86 percent. More than 6.19 million shares had changed hands.
The PSX data portal also lists a June 1 company announcement titled “Unusual movement in Price of the shares of Unity Foods Limited.”
Separate scrutiny involving company
The share-trading inquiry comes amid a separate SECP-referred investigation involving Unity Foods and its wholly owned subsidiary, Sunridge Foods.
The Federal Investigation Agency’s Corporate Crime Circle registered a case in Karachi on August 29. It names several current and former company officials.
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That investigation includes allegations of a Rs44.7 billion difference between published accounts and internal SAP records. The FIA matter remains separate from the alleged insider trading inquiry.
No court has established these allegations. The named individuals retain the right to respond to investigators and contest any eventual proceedings.
