Sardar SHAHBAZ ALI KHAN KHOSA vs COMMISSIONER SUPERVISION DIVISION, SECP Chapt — 2024 CLD 660 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation: 2024 CLD 660 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year: 2024
Reporter: CLD
Parties: Sardar SHAHBAZ ALI KHAN KHOSA vs COMMISSIONER SUPERVISION DIVISION, SECP Chapt
Provisions referred to: S. 7---S; Securities Act (III of 2015); Pakistan Act (XLII of 1997)

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

Sardar SHAHBAZ ALI KHAN KHOSA VS COMMISSIONER SUPERVISION DIVISION, SECP Chapt. 18---Securities Act (III of 2015), S. 7---Securities and Exchange Commission of Pakistan Act (XLII of 1997), Ss. 20 & 33---Dispute between a securities broker and its client, resolution of---Arbitration proceedings---Scope---Client alleged that Illegal/unlawful trades/transactions were made in his Trading Account maintained with the security broker---Commissioner Supervision Division, Securities and Exchange Commission of Pakistan, directed the parties to approach Pakistan Stock Exchange (PSX) to resolve their dispute through arbitration---Appellant/client impugned said order passed by the Securities and Exchange Commission of Pakistan---Validity---Contention of the appellant was that the impugned order be modified making the same time-bound---Held, that the contention of the appellant was not tenable for the reason that in the applicable arbitration framework , an in-built timeline was provided, hence there was no need to issue a separate time-bound directions---No reason had been noticed for interference with the merits of the impugned order passed by the Commissioner Supervision Division Securities and Exchange Commission of Pakistan---Appeal filed by the client was dismissed, in circumstances.

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