CRESCENT STAR INSURANCE COMPANY LIMITED versus SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Section 63 of the Special Relief Act (Constitution of 1877), Sections 42 and 54 of the plaintiff, the insurance company has filed for this contract as well as a permanent injunction under which the company issued by the Securities and Exchange Commission of Pakistan Has been instructed to close its business within a month. To date, Section 63 of the Insurance Ordinance 2000 was violated and violated, and further pleaded that no instruction can be issued by the Commission without the opportunity of a hearing on the basis that the instruction The note was issued. The said subsection was not regulated under sub-section (1) of section 63 of the Insurance Ordinance 2000 and section 63 (2) of section 63 of the said ordinance, therefore, without notice for any reason. Was issued or provided an opportunity for a hearing. The clause (d) attached to clause (d) of section 63 (2) of the Ordinance provides that the clause (2) of section 63 of the Insurance Ordinance, 2000 expressly provides that under the said clause The instruction should not be issued without giving the insurance company an opportunity to be heard, but Article 63 (1) cannot be read separately. Reading along with subsection (2), in particular clause (d), in which the legislature provided a method and procedure for dealing with the situation when the Commission deemed it appropriate and appropriate to issue instructions and Non-compliance with the directive may be the result. Conditions that may include the direction to prevent new insurance contracts from being entered into, but can be made only after the hearing of the insurance company that has complied with the terms of the hearing
Related judgments — Karachi High Court Sindh, 2011
