CONTROLLER OF INSURANC versus PAKISTAN INTERNATIONAL INSURANCE CO.
S 53 (2) (b) (iV) Companies Ordinance (XLVII of 1984), Section 305 Action and the Company's default where the policy is prejudicial to the interests of the holders, the ability to terminate the application, where the defendant has sued the Insurance Department. Had cheated. Registration time by submitting false promises. Used a registration certificate as an insurance to withdraw public money by issuing a guarantee for illegal investment companies. There are a number of pending claims with the companies, complaints about which the department and company received were in the habit of issuing checks that were dishonored. Such action and misconduct by the Company will bring its case in the mischief of section 53 (2) (b), Insurance Aid, 1938 CL (iv), the application for termination of the company was granted in the circumstances. Was
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