Order No. 2   dt.  01/10/2019

Complainant has filed this case stating inter alia that he opened a demat account with the o.p. at their Nimtala Branch and the complainant was provided with MICR Code No. and the same was duly communicated by the bank to the different establishment through which the complainant purchased shares. The account of the complainant was transferred to Ultadanagta branch and the MICR code no. was changed and it is the duty of the o.ps to intimate the same to the different establishment through company of which the complainant purchased the shares but the o.ps intentionally neglected to do so. On the basis of the said fact the complainant filed petition praying for deficiency of service on the part of the o.ps.

On perusal of the record we find that the dispute arose relating to a demat account which the complainant has maintained with the o.p. bank and the statement of account submitted by the complainant shows that there are transaction of shares through the said account. Since the matter relating to share transaction which is commercial in nature and the transaction has arisen out of a demat account therefore, we hold that the complainant is not a consumer as per the provision laid down u/s 2(1)(d) of the C.P. Act.

In view of the facts and circumstances has stated above we hold that the case is not maintainable and the same is dismissed accordingly.