THE CRESCENT STAR INSURANCE COMPANY LIMITED versus SULTANABAD MODEL GINNING, PRESSING FACTORY AND OIL MILLS
Sections 129 and 130 (2) of the Securities and Exchange Commission (Insurance) Rules, 2002, R35 fire insurance cover note, cancellation of respondent (insurance mill) with insurance company entered into a contract to obtain fire insurance cover note premium amount In connection with the payment of the premium amount, which was sent by the mill in connection with the payment of the premium amount on 14th 2009, the insurance company was not received and was returned to the mill reporting that the premium amount on the mill was returned. Failed to pay Fire insurance note delivery date, dated 10-10, 2009, the insurance cover note was automatically canceled, the complaint was filed by the mill, the insurance ombudsman accepted, the insurance company accepted section 110 (2). An appeal was filed under ) The Insurance Ordinance, 2000 fire insurance cover note, which did not have a premium payment date, was canceled on 10, 2009, only 9 days after the issuance of the fire insurance company, ver note, mill insurance company or its agent The mill was advised without any prior notice that premiums must be paid during this period. The law does not support the view that the insurance company should insist immediately by the insurance overbedsman. To pay the premium, which could not be deducted, the insurance company was instructed to cover the cover As legitimate as it was not, and was bound. To be honored, in the circumstances the appeal was dismissed
Related judgments — Securities and Exchange Commission of Pakistan, 2013
