DISTRICT FORUM :: KADAPA
PRESENT: SRI P.V. NAGESWARA RAO, M.A., LL.M., PRESIDENT
SRI S. ABDUL KHADER BASHA, B.Sc., MEMBER
Thursday, 17th July 2008
CONSUMER COMPLAINT No. 45 / 2008
B. Nagaraja Gowd, S/o B. Chennaiah Gowd,
aged 38 years, Residing at MIGH – 28, ApHB Colony,
Proddatur, Kadapa Dist. ….. Complainant.
Vs.
1) Visni Stock Broking Services, Rep. by its
Manager, 12/123, G.T. Street, Proddatur – 516 360.
2) Registrar, Intime Spectrum Registry Limited,
Mundra Port and Special Economic Zone Limited,
C-13, Pannalal Silk Mills compound, LBS Marg,
Bhandup (west), Mumbai – 400 078. ….. Respondents
This complaint coming on this day for final hearing on 15-7-2008 in the presence of Sri G. Trivikram Singh, Advocate for complainant and respondents called absent and set expate and upon perusing the material papers on record, the Forum made the following:-
O R D E R
(Per Sri P.V. Nageswara Rao, President),
1. Complaint filed under section 12 of the Consumer Protection Act.
The complainant issued a D.D for Rs. 13,200/- along with commission charges to R1, who was doing shares brokerage business in order to get the allotment of shares from R2. The R1 collected D-mat number, Pan card number and signatures on application bearing No. 8158894. The R1 informed the complainant that 30 equity shares of R2 would be received from R2. On 22-11-2007 the complainant came to know that the R2 allotted shares to investors and returned the amount to all alloties. The R2 has not allotted the shares nor returned the money. On enquiry it came to know that to skip from D.D. commission charges, the R1 sent 3rd party cheques to R2 for getting equity shares. As per rules and regulations the 3rd party cheques were not allowed. Since 3rd party cheques was sent the equity shares were not allotted by R2. Later the complainant enquired the R1 and questioned for non allotment of shares by R2 to which the R1 gave evasive replies and stated that R2 was responsible for refund of amount to the complainant. The complainant gave a complaint to the concerned police for negligent act of R1. No action was taken against the R1 by the police. At last the complainant wrote letter and E-mail requesting to return the amount of Rs. 1,3200/-. But there was no response. Hence, the complaint was filed for refund of Rs. 13,200/- along with interest @ 24% p.a. from 6-11-2007 till realization and Rs. 50,000/- towards mental agony and Rs. 2,000/- towards costs.
The R1 was called absent and set exparte on 19-6-2008. R2 sent a letter dt. 12-5-2008 received by the forum on 17-5-2008 seeking one month time to file the reply. The R2 did not file the counter till 15-7-2008. Therefore, the R2 was called absent and set exparte on 15-7-2008
i. Whether the complainant is entitled for the relief as prayed for?
ii. Whether there is any deficiency of service on the part of the respondents?
iii. To what relief?
5. On behalf of the complainant Ex. A1 to A6 were marked and no documents were filed on the side of the respondents.
6. Point Nos. 1 & 2. The complainant issued a D.D for Rs. 13,200/- on 6-11-2007 for purchase of 30 equity shares of R2 through R1 a share broker. It was received by R2. But there was no allotment of shares from R2 to the complainant. Ex. A2 was Xerox copy of D.D. Ex. A1 was Xerox copy of acknowledgement slip from R2. The complainant was not allotted the shares nor refund of the collected amount. Therefore, the complainant sent a letter dt. 6-2-2008 to R2 for refund of the amount. The Xerox copy of letter was Ex. A3. Ex. A4 was Xerox copy of another letter dt. 12-2-2008 to R2 for refund of the amount. Ex. A5 was Xerox copy of postal acknowledgement with receipt. Subsequent to filing of the case the R2 issued a cheque for Rs. 13,200/- to the complainant dt. 20-3-2008 along with a covering letter dt. 23-4-2008 the letter with Xerox copy of cheque was Ex. A6. The R2 paid the amount of Rs. 13,200/- subsequent to filing of the case. Hence, the complainant had received the invested money but without interest under Ex. A6. Thus there is deficiency of service on the part of the respondents. Hence, the points are answered accordingly.
7.Point No. 3. In the result, the complainant is allowed directing the respondents 1 & 2 jointly and severally to pay interest @ 9% p.a. on Rs. 13,200/- (Rupees Thirteen Thousand two hundred only) from 6-11-2007 till realization, Rs. 1000/- (Rupees one thousand only) towards mental agony and Rs. 500/- (Rupees five hundred only) towards costs, payable within 30 days from the date of receipt of this order.
Dictated to the Stenographer, transcribed by him, corrected and pronounced by us in the open forum, this the 17th July 2008
MEMBER PRESIDENT
APPENDIX OF EVIDENCE
Witnesses examined.
For Complainant : NIL For Respondent : NIL
Exhibits marked for Complainant : -
Ex. A1 X/c of acknowledgement slip from R2.
Ex. A2 X/c of Demand Draft, dt. 6-11-2007.
Ex. A3 X/c of letter to R2 from B. Nagaraja Goud, dt. 6-2-2008.
Ex. A4 X/c of letter from B. Nagaraja Gound to R2, dt. 12-2-2008.
Ex. A5 X/c of postal acknowledgement and receipt.
Ex. A6 Letter to B. Nagaraja Gound from R2, dt. 23-4-2008 with Xerox copy of cheque.
Exhibits marked for Respodnents : - NIL
MEMBER PRESIDENT
Copy to :-
1) Sri G. Trivikram Singh, Advocate, Kadapa.
2) Visni Stock Broking Services, Rep. by its Manager, 12/123,
G.T. Street, Proddatur – 516 360.
3) Registrar, Intime Spectrum Registry Limited, Mundra Port and
Special Economic Zone Limited, C-13, Pannalal Silk Mills
compound, LBS Marg, Bhandup (west), Mumbai – 400 078.
1) Copy was made ready on :
2) Copy was dispatched on :
:
B.V.P. - - -
