15th day of March 2014
C.C.118/14 filed on 1/3/14
Complainant: Archana MohanRaj, W/o.Dr.Anudath, 5-A Avenue
Crest Apartment, Avenue Road, Kuriachira.P.O.,
Thrissur.
(By Adv.M.Anilkumar, Thrissur)
Respondents: 1. ICICI Securities Ltd., Sree Savan Knowledge Park,
Plot No.D-507, TTC Ind Area MIDC, Turbhe,
Opp.Juinagar Railway Station, Navi Mumbai, rep.
by its Managing Director.
2. ICICI Bank Ltd., Thrissur Branch, Delma Complex,
Opp.Co-operative hospital, Shornur Road, rep. by
its Manager.
O R D E R
By Smt.Padmini Sudheesh, President :
Heard on admission and rejected. The complaint is filed to get back the deposit amounts with interest. It is seen that the deposit was done by expecting growth in the deposit within a short span of time. So it can be considered that profit making was the intention of petitioner. She was engaged in a speculative trading by depositing the amount by expecting growth in money. More over the deposit was towards share business which is also out side the purview of Consumer Disputes Redressal Agencies. It is averred in the complaint itself that respondents informed petitioner that she is gaining profit by their trade. The share transactions do not come within the ambit of Consumer Protection Act. The very purpose of purchase of shares is commercial and it is outside the purview of Consumer Protection Act. Hence the complaint is liable to be rejected and we do so.
Dictated to the Confidential Assistant, transcribed by her, corrected by me and pronounced in the open Forum this the 15th day of March 2014.
Sd/- Padmini Sudheesh, President.
Sd/-
Sheena.V.V, Member.
Sd/-
M.P.Chandrakumar, Member
Appendix
Nil
Id/-
President
