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The UNITED INSURANCE COMPANY OF PAKISTAN LIMITED vs The HOD, ADJUDICATION-I, ADJUDICATION DIVISION, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD S — 2025 CLD 872 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation
2025 CLD 872 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year
2025
Reporter
CLD
Parties
The UNITED INSURANCE COMPANY OF PAKISTAN LIMITED vs The HOD, ADJUDICATION-I, ADJUDICATION DIVISION, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD S
Provisions referred to
S. 24-; Insurance Ordinance (XXXIX of 2000)

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

The UNITED INSURANCE COMPANY OF PAKISTAN LIMITED VS The HOD, ADJUDICATION-I, ADJUDICATION DIVISION, SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD S. 24-a---Insurance Ordinance (XXXIX of 2000), Ss. 156 & 166---Insurance of public property, matter of---Violations---Penalty, imposition of---Non-speaking order, plea of---Scope and effect---Securities and Exchange Commission of Pakistan ('Commission') penalized appellant (Insurance Company ) on a complaint lodged by National Insurance Company Limited (NICL/Complainant) for underwriting insurance policies of vehicles of a public sector entity (PaSSCO) ---argument of the appellant was that the Impugned Order was a non-speaking order---Validity---Commission / Respondent adequately explained in the Impugned Order how the law was violated and provided reasons to implicate the appellant---Thus, the appellant's objection was mis-conceived---appeal, filed by Insurance Company, being merit-less was dismissed, in circumstances.

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