FINAL ORDER/JUDGEMENT           

SHRI SWAPAN KUMAR MAHANTY,   PRESIDENT

The facts, as stated in the complaint and emerged from the documents attached with it, are that the OP-1 is the Registrar of OP-2 who sells its own shares in the market for profit in large and proforma OP-3 is a Share Broking Firm who runs its business in purchasing and selling different shares of different companies to its customers and Performa OP-4 is the last known owner of the shares in dispute who had already sold out shares through Share Transfer Form. Complainant had purchasd 500 ITC shares being Nos. 248363, 210550, 37337, 158074, 899082, 386522 and 805283 through the proforma OP-3 and thereafter, the complainant have aforesaid original  shares without transferring and/or changing her name. Prior to dogmatization system came into force it was normal practice of the share related people to sell out their shares or purchase shares without getting the name transferred as in the instant case. The aforesaid 500 shares were transferred by the OP-1 in favour of OP-4 in the year  1997 and who was the last purchaser of those shares. OP-3 issued an outward memo dated 07.04.2005 to the complainant that out of aforesaid 500 shares certificate for 450 shares were subject matter of the suit filed by the earliest share holders at Nashik and returned the original share certificate to the complainant as bad delivery and her account was debited by Rs. 2,11,500/-. Despite several request the prorfoma OP-3 did not settle the bad delivery of shares and illegally debited account of the complainant. Having no other alternative, complainant vide letter dated 23.04.2009  requested the OPs 1 & 2 to provide the status of the shares and transfer the shares in the name of the complainant. On the contrary, the OPs 1 & 2 advised the complainant to submit Transfer Deed and/or to obtain an order from a Court of Law to transfer the shares ones a suit filed by the earlier share holders. The original suit and subsequent Miscellaneous Application filed by the earlier share holders has been dismissed by the Ho’ble Court. Complainant several times requested the OPs 1 and 2 to transfer the shares in her name and ultimately, compelled to issue legal notice dated 11.08.2020. Complainant is a consumer under the OPs as defined Consumer Protection Act. Hence, the instant consumer complaint.

Despite publication of notice in the daily news paper, the OPs did not turn up to contest the case by filing          WV. Thus, the case runs ex parte against the OPs.

In support of her case, the complainant has filed E/chief supported by an affidavit and relied the documents annexed with the complaint petition.

We have heard the Ld. Advocate for the complainant and perused the complaint petition along with its annexure thereto.

On careful perusal of the complaint petition, it appears to us that complainant purchased 500 ITC shares being Nos. 248363, 210550, 37337, 158074, 899082, 386522 and 805283 from OP-3. It is true that in absence of Security Transfer Form or Court Order for transfer of shares  the OPs 1 and 2 unable to transfer to concerned shares  in favour of the complainant.  Several rules and regulation of share transfer has been made after purchase of shares by the complainant. Shares of ITC cannot be transferred in favour of the complainant on the ground that Share Transfer Form has not been filed by the original share holders in favour of the complainant. The OPs 1 and 2 intimated the complainant to obtain necessary order from the Court of Law in that case share transfer shall be done. On bare perusal of annexure C of the complaint petition, we find that the Hon’ble Civil Judge (Sr, Div.) Nashik disposed of the Miscellaneous Application being MA No. 0200201/2006 vide order dated 23.06.2014. Despite given several opportunity, the OPs did not file their WV to deny the allegations made by the complainant. Thus, the evidence of the complainant remains unchallenged. Therefore, we find no legal bar to allow the prayer of the complainant as made out in the complaint.

Based on the discussion above, we are disposed of the consumer case in the following terms:-

 OPs are directed to transfer 450 shares being Nos. 248363, 210550, 37337, 158074, 899082, 386522 and 805283 in favour of the complainant with effect from 1997 along with all allied benefits i.e. debenture and bonus within 90 days from the date of this order. If the OPs fail to comply the order in that event,  the complainant may put the order by filing Execution Application.

Copy of the judgment be supplied to the parties as per rules. Upload the judgment on the website of this Commission for perusal of the parties.