By. Sri. Chandran Alachery, Member:
The complaint is filed under section 12 of Consumer Protection Act for an Order directing the opposite parties to pay Rs.12,250/- with 12% interest from the date of deposit till payment and also to pay Rs.50,000/- as compensation.
2. Brief of the complaint:- The complainant purchased the shares of opposite party No.2 company on the basis of the instigation of opposite party No.1, who being the agent of opposite party No.2 on 13.03.2010 for a sum of Rs.12,250/-. The opposite party No.2 company send the share certificate to the complainant for a sum of Rs.2,000/-. The face value of one share is Rs.1 only. The opposite party No.2 also send discount cards for a sum of Rs.5,500/-. The opposite parties promised the complainant that they are going to start a supermarket in Sulthan Bathery and by using this discount cards, the complainant can avail Rs.5,500/- as discount for the grocery items. The opposite parties also promised that the opposite parties will start supermarket on January 2013. But contrary to the promises, the opposite parties never started supermarket in Sulthan Bathery and did not send balance share certificate. The act of the opposite parties is nothing but unfair trade practice and deficiency of service. Aggrieved by this the complaint is filed.
3. On receipt of complaint, notice was issued to opposite parties and opposite party No.2 appeared before the Forum and filed version. Opposite party No.1 did not appear and opposite party No.1 is set ex-parte. In the version of opposite party No.2, opposite party No.2 contented that the complainant is not a consumer and the Forum has no jurisdiction to try the matter. The complaint is filed after the period of two years of the alleged cause of action. The opposite party No.2 has no agent or employee in Wayanad District. The claim of complainant is related to shares of the Bizarre Business Corporation Limited, Kaloor, Kochi. The complainant was allotted 2000 shares of Rs.1/- face value and 11 privilege cards worth Rs.750/- and discount card worth Rs.5,500/-. The relationship between the company and the complainant is a share holder and company relationship. The shares became part of the permanent capital of company as per companies Act. AS per Companies Act, an individual share holder cannot claim refund of capital contributed by them. More over, the company is facing legal proceedings and the Honorable High Court of Kerala in WP(c) 6161/13 passed an Order on 30.08.2013 and stated that the complainants can claim for getting their money. Therefore there is no deficiency of service from the part of opposite parties.
4. On perusal of complaint, version and documents the Forum raised the following points for consideration:-
1. Whether there is any deficiency of service or unfair trade practice from the
part of opposite parties?
2. Relief and cost.
5. Point No.1:- The complainant filed proof affidavit and is examined as PW1 and documents are marked as Ext.A1. Opposite party No.2 did not file proof affidavit and adduced any oral evidence. Opposite party No.1 is ex-parte. On perusal of evidence and documents, it is found that the opposite party No.2's business is registered under Companies Act 1956 and as per Companies Act, the share holder cannot claim for refund of share value issued to him. In this case, it is seen that the company issued share Certificate to the complainant for a sum of Rs.2,000/-. So the complainant cannot claim that amount from the opposite party No.2. The opposite party No.2 company also issued 11 privilege cards worth Rs.750/- and discount vouchers for worth Rs.5,500/- to the complainant. That is admitted by opposite party in their version. Since the opposite party No.2 company not started supermarket at Sulthan Bathery as promised, the complainant is entitled to get back that amount from the opposite party No.2. As per the version of opposite party No.2, the business of the company is not running due to some cases pending at Court, the opposite party No.2 company is trying for a settlement. So by analyzing the entire evidences, the Forum found that there is deficiency of service and unfair trade practice from the side of opposite party No.1 and 2. The Point No.1 is found accordingly.
6. Point No.2:- Since the Point No.1 is found in favour of complainant, the complainant is entitled to get cost and compensation.
In the result, the complaint is partly allowed and the opposite parties are directed to pay Rs.750/- (Rupees Seven Hundred and Fifty) being the value of 11 privilege Cards and Rs.5,500/- (Rupees Five Thousand and Five Hundred) being the value of Discount Vouchers to the complainant with 12% interest from 12.03.2010 till payment. The opposite parties are also directed to pay Rs.5,000/- (Rupees Five Thousand) as compensation and Rs.2,000/- (Rupees Two Thousand) as cost of the proceedings. The opposite party No.1 and 2 shall jointly and severally liable to pay the above amounts to the complainant within 30 days from the date of receipt of this Order, failing which the complainant is entitled to get 12% interest for the whole amount.
Dictated to the Confidential Assistant, transcribed by him and corrected by me and Pronounced in the Open Forum on this the 17th day of June 2015.
Date of Filing:01.08.2014. PRESIDENT :Sd/-
MEMBER :Sd/-
MEMBER :Sd/-
/True Copy/
Sd/-
PRESIDENT, CDRF, WAYANAD.
APPENDIX.
Witness for the complainant:-
PW1. Raghunath. Complainant.
Witness for the Opposite Parties:-
Nil.
Exhibits for the complainant:
A1. Share Certificate. Dt:19.07.2010.
Exhibits for the opposite parties:-
Nil.
Sd/-
PRESIDENT, CDRF, WAYANAD.
a/-
