FIA Registers FIR Against Former Unity Foods Management: Rights Issue Of Rs3.75 Billion Raised From Shareholders. Rs2.87 Billion Allegedly Used For Undisclosed Purposes. Rs5.318 Billion Allegedly Paid To Former CEO’s Mother As Loan. Subsidiary Advanced Rs2.6 Billion To Unidentified Parties
According to Mettis Global News, the Federal Investigation Agency registered a First Information Report on August 29, 2026, against the former management of Unity Foods Limited and other accused, following an SECP investigation that uncovered a series of alleged financial irregularities in the listed company.
The investigation found that Unity Foods raised Rs3.75 billion from shareholders through a rights issue, of which approximately Rs2.87 billion was allegedly deployed for purposes other than those disclosed to investors. The FIR further alleges that Rs5.318 billion was paid from company funds as a loan to the former CEO’s mother, while the company’s subsidiary advanced Rs2.6 billion to two unidentified parties.
Most strikingly, SECP investigators identified a discrepancy of approximately Rs44.7 billion between the company’s published accounts and its internal SAP system records — an accounting gap of extraordinary scale for a listed company. A separate discrepancy of approximately Rs5.2 billion was found between company records and physical inventory. Additionally, investigators found a lack of evidence supporting the supply of goods against old outstanding liabilities of approximately Rs5 billion.
SECP referred the matter to the FIA under Section 41-B of the relevant legislation for possible criminal offences. SECP Chairman Dr Kabir Ahmed Sidhu stated that protecting investors’ funds and ensuring transparent financial reporting in listed companies are fundamental responsibilities of the regulator, and that funds raised from investors must only be used for their disclosed purposes.
A rights issue is a promise to shareholders. The FIR says that promise was broken — and the scale of the discrepancy raises serious questions about how long it went undetected.
Check out our previous coverage of Pakistan’s financial markets on The Trusted Times.
