Karnataka

Dharwad

CC/114/2016

Govindrao B.Kulkarni - Complainant(s)

Versus

Geojit BNP Paribas Financial Service Ltd - Opp.Party(s)

11 May 2016

ORDER

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Complaint Case No. CC/114/2016
 
1. Govindrao B.Kulkarni
R/o: Suyog, Old ITO Road, Vidyanagar,Hubli,
Dharwad
Karnataka
...........Complainant(s)
Versus
1. Geojit BNP Paribas Financial Service Ltd
202/205, Bhavani Arcade, 2nd Floor, B Block, New Cotten Market, Hubli-29,
Dharwad
Karnataka
............Opp.Party(s)
 
BEFORE: 
 HON'BLE MR. JUSTICE Shri. B.H.Shreeharsha PRESIDENT
 HON'BLE MRS. Smt. M. Vijayalaxmi MEMBER
 
For the Complainant:
For the Opp. Party:
ORDER

O R D E R

Called. Complainant filed the present complaint praying for return of the amount of Rs.2,61,400/- wrongly recovered by OP along with interest @12% PA from 23.06.2015 till realization along with cost of the proceedings and to grant such other reliefs.

The case of the complainant is that the complainant for the purpose of earning livelihood he invested amount and the same was not returned. Aggrieved by the non payment of the amount the complainant approached this forum & filed this complaint praying for the reliefs.

Heard.

Since this being the transaction of share investment the complainant is not a consumer as defined under CP Act & hence the present complaint is not a consumer complaint. In this regard this forum would like to rely on   2015 (2) CPJ 95 NC Krishna   Kolhar vs. Religare Security Ltd., wherein it is held, share trading – commercial purpose - complainant not a consumer. 2013 (1) CPR 534 NC M/s.Sashi Gupta vs. B.Murali wherein it is held, shareholder of a company is not a consumer.

In view of the above citations & the same is interpreted with the pleadings and case of the complainant is taken into consideration the present complaint is not a consumer complaint. Hence complaint is dismissed as not maintainable. No order as to costs.

 
 
[HON'BLE MR. JUSTICE Shri. B.H.Shreeharsha]
PRESIDENT
 
[HON'BLE MRS. Smt. M. Vijayalaxmi]
MEMBER

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