The Sindh High Court (SHC) issued a stay order in favor of Karachi Municipal Corporation (KMC) regarding ownership of the Pakistan Cotton Exchange building in Karachi, reported 24NewsHD TV channel on Tuesday.
A spokesman of Karachi Municipal Corporation said that Mayor Murtaza Wahab submitted the case after the Court granted a stay on the issue.
The spokesman further said that the Federal Investigation Agency (FIA) sealed the historic building of Karachi Municipal Corporation on December 12, 2026.
FIA stated that they sealed the Cotton Exchange Building after the directives from the Supreme Court of Pakistan and with the assistance of ETBP.
The Federal Investigation Agency said that several rooms of the building were rented out to different people.
The Sindh High Court adjourned the hearing of the case till Friday and also sought the full record of the investigation to take the case forward.
Reporter: Shoaib Mukhtar