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MUHAMMAD SAEED vs STATE LIFE INSURANCE CORPORATION OF PAKISTAN through Chairman Regln — 2023 PLC(CS) 849 LAHORE-HIGH-COURT-LAHORE

Case information

Citation
2023 PLC(CS) 849 LAHORE-HIGH-COURT-LAHORE
Court
Lahore High Court
Year
2023
Reporter
PLC
Parties
MUHAMMAD SAEED vs STATE LIFE INSURANCE CORPORATION OF PAKISTAN through Chairman Regln

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

MUHAMMAD SAEED VS STATE LIFE INSURANCE CORPORATION OF PAKISTAN through Chairman Regln.4 (ii)(c)(1) & (2)---Incentive Bonus and Additional Incentive Bonus---Operational Cost, deduction of---Petitioners were employees of respondent company and were aggrieved of recovery of amount in excess of 10% of their Operational Cost from their Incentive Bonus or Additional Incentive Bonus---Validity---Appellants were required to fulfill their annual FYP quota to ensure that their Persistency Ratio was not lower than ratio as prescribed---Failure to achieve all or any of such requirements would necessitate curtailments or taking any or all such measures---Incentive Bonus and Additional Incentive Bonus were granted to appellants in terms of their appointment letters and the same could not curtailed or withdrawn in terms of Reglns. No.4(ii)(c)(1) & (2) of State Life Employees (Service) Regulations, 1973, by Board of respondent company---High Court declared the act of respondent company regarding deduction of Incentive Bonus and Addition Incentive Bonus from Operational Cost of appellants to be illegal and without lawful authority and the same was set aside---High Court directed respondent company to refund the amount deducted out of Incentive Bonus and Additional Incentive Bonus from Operational Cost of appellants---Intra Court Appeal was allowed accordingly.

Other judgments reported in 2023 PLC

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