"An unstabilized approach followed by a well executed go-around at the right time is usually enough to stay out of trouble, while continuing to a landing that we think is fine , may be the major reason of the failure".
To my knowledge, there is absolutely no issue with conducting a go-around from an unstable approach, in fact, it is mandatory. As for it 'usually' being enough to stay out of trouble is rather misleading. Furthermore, continuing to land from any approach that does not meet the stable approach criteria is against company policy, irrespective of what the operating pilot(s) may think.
As I understand it, the incident in KHI did indeed result in the termination of the Captain.