Law: Insurance Ordinance, 2000

Section: 122

Insurance Ordinance (XXXIX of 2000)---Ss. 122, 127 & 130-Appeal against order passed by Insurance Ombudsman before the Security Exchange Commission Matter in dispute was sub judice at the time of filing the complaint with the Ombudsman---question as to whether a suit was maintainable or not could only be decided by the court before which it was pending---Security Exchange Commission was not the forum which could determine as to whether the object of S.127(1) (b) of the Insurance Ordinance, 2000 was served in the case. ORDER NASREEN RASHID, MEMBER.---Mr. Muhammad Waqar Rana has already filed Power of Attorney in his favour from the appellant. 2. Mr. Muhammad Zeehan Abdullah filed Wakalatnama to appear in this matter on behalf of the respondent. 3. This order will dispose of the appeal filed by Messrs Mangala View Resort (Private) Limited, against the order dated 24-7-2008 passed by the learned Insurance Ombudsman in respect of the complaint (Miscellaneous Application No.198 of 2007) lodged by Messrs Mangla View Resort (Private) Limited against Messrs United Insurance Company Limited. 4. To conduct the hearing, Securities and Exchange Commission of Pakistan (the Commission) invited Messrs Mangla View Resort (Private) Limited and Messrs United Insurance Company Limited to visit the Commission's Karachi Office on 18-12-2009 at 10-00 a.m. 5. The Advocate for the appellant was heard against the above order of the learned Insurance Ombudsman. The Advocate for the respondent was also given the opportunity to present his case. 6. The appellant pointed that the order of the learned Ombudsman is against the law and facts because the jurisdiction of the learned Ombudsman is barred only in cases where the matters are sub judice before the Court of competent jurisdiction whereas the jurisdiction of a civil Court is barred as it is provided in section 122(3) of the Insurance Ordinance, 2000. He asserted that the Contractor and respondent have used the suit to avoid the encashment of the Performance Guarantee and, therefore, the respondent should be ordered to encash the bond. He pointed that a literal interpretation of section 127(1)(b) defeats the very intent of law and…

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