TRADE SMART SECURITIES (PRIVATE) LTD. vs SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN art — 2025 PLD 151 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2025 PLD 151 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2025
Reporter: PLD
Parties: TRADE SMART SECURITIES (PRIVATE) LTD. vs SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN art
Subject matter: Constitutional

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

TRADE SMART SECURITIES (PRIVATE) LTD. VS SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN art. 199--- Constitutional petition--- Maintainability--- alternate efficacious remedy---Grievance of a securities broking company against Pakistan Stock Exchange---arbitration proceedings---Petitioner assailed initiation of arbitral proceedings before arbitral tribunal by respondent/ Pakistan Stock Exchange---Validity---When alternative and equally efficacious remedy is open to a litigant, he should pursue that remedy---In presence of arbitration agreement between parties there was no other option left but for the aggrieved party to proceed with agreed alternative dispute resolution mechanism i.e. arbitration---There was no reason to invoke Constitutional jurisdiction of High Court for issuance of writ in an ongoing arbitration matter unless some exceptional ground could be made out for such intervention in the facts and circumstances of the case or in law---Respondent/Pakistan Stock Exchange was not a person performing functions in connection with the affairs of the Federation---Institutional arbitration was currently under process between parties---Petitioner could not renege from the same and even otherwise, arbitral forum had provided adequate remedy to petitioner, which had not been exhausted---High Court declined to interfere in the matter as an arbitration was underway---Constitutional petition was dismissed, in circumstances.

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