Punjab

Ludhiana

CC/16/146

Manpreet Kaur - Complainant(s)

Versus

Bhandari Hosiery Export Ltd - Opp.Party(s)

S.s.Oberoi

22 Apr 2016

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL FORUM, LUDHIANA.

 

Consumer Complaint No. 146 of 23.02.2016

Date of Decision            :   22.04.2016

Manpreet Kaur, 27 FF, HIG Flats, Rani Jhansi Road, Ludhiana-141001.

….. Complainant

                                                         Versus

Bhandari Hosiery Export Ltd, Bhandari House, Village Meharban, Rahon Road, Ludhiana-141007.

…Opposite party

 

                   (Complaint U/s 12 of the Consumer Protection Act, 1986)

 

QUORUM:

SH.G.K.DHIR, PRESIDENT

MRS.VINOD BALA, MEMBER

 

COUNSEL FOR THE PARTIES:

For complainant                      :        Sh.Surjit Singh Oberoi, authorized representative

 

 

PER G.K.DHIR, PRESIDENT

 

1.                Complainant filed complaint under Section 12 of Consumer Protection Act, 1986(hereinafter in short referred to as ‘Act’) against Op by claiming that OP company has not sent him annual company report for the year 2013-14, despite the fact that she is share holder of the company. This annual report was to be received by 30.9.2014. Due to non supply of the said report, complainant claims to have lost the right to discuss about financial health of the company. Violation of Section 101 of Companies Act alleged. Request to this Forum made to compensate her by awarding an amount of Rs.30,000/-. Litigation expenses of Rs.5000/- even more claimed.

2.                Arguments at the stage of admission addressed by Sh.Surjit Singh Oberoi, the authorized representative of complainant.

3.                Consumer Fora to assume jurisdiction in case the complainant is a consumer. Consumer is defined in Section 2(1)(d) of the Consumer Protection Act, 1986. Consumer means any person who buys any goods for a consideration or who hires or avails services for a consideration, paid or promised or partly paid and partly promised. However, a person who obtain goods for resale or for commercial purposes or who hires or avails services for any commercial purposes, is not a consumer as per Section 2(1)(d) of the Act itself. A share holder purchases shares as an investor for sharing profits/losses of the companies and as such, he doesn’t avail the services for self consumption. Section 115(5) of the Companies Act, 1956 provides that the bearer of a share warrant be deemed to be a member of the company. In view of this, share holder to be deemed as a member of company. When such is the legal proposition,then certainly a share holder to be taken as a co-sharer/co-owner in the assets and liabilities of the company. Due to holding of this position, the complainant, being share holder of OP company, is co-owner in the company and as such, he cannot be treated as consumer at all.

4.                Complainant seeking procurement of annual report of the company. Annual returns of the company to be submitted with the Registrar of the company as   per Section 159 of the Companies Act, 1956. The annual report to be kept at the registered office of the company as per Section 163 of the Companies Act, 1956. It is not claimed by the complainant as to on which date she applied for inspection of the annual returns or registers and as such virtually particulars in that respect are not disclosed in the complaint. These annual returns to be filed with the Registrar as per Section 160 of the Companies Act, 1956 even. So complainant being share holder and a member of OP company can avail the remedy of seeking inspection by approaching the Registrar of company. As the complainant is not a consumer within the meaning of Section 2(1)(d) of the Consumer Protection Act, 1986 and as such, this consumer complaint is not maintainable and the same is hereby dismissed at the admission stage itself. Copy of order be supplied to the complainant free of costs as per rules. 

5.                File be indexed and consigned to record room.

 

                   (Vinod Bala)                                 (G.K. Dhir)

          Member                                          President

Announced in Open Forum

Dated:22.04.2016

Gurpreet Sharma.