Goa

StateCommission

FA/36/2012

Sandesh Pai Vernekar - Complainant(s)

Versus

Motilal Oswald Securities Ltd & Other - Opp.Party(s)

A.P.Furtado

15 Nov 2013

ORDER

 
First Appeal No. FA/36/2012
(Arisen out of Order Dated null in Case No. of District State Commission)
 
1. Sandesh Pai Vernekar
Adwapalkar Appts, Shankarwaddi, Taleigao 403 002
 
BEFORE: 
 HONABLE MR. JUSTICE N.A.Britto PRESIDENT
 HONABLE MRS. Smt.Vidhya R. Gurav MEMBER
 
PRESENT:
 
ORDER

 It is fairly well settled (Bijay Agarwal V/s. Nirmal Bang Security Pvt. Ltd.,2011 CTJ 688) that ale and purchase of shares involves an element of risk, it may fetch huge profit and may result in huge loss. Share transactions come under commercial activity and as the services of the OP were availed by the Complainant for the purchasing and selling the shares, the Complainant caanot be said to be a consumer under C.P. Act, 1986.

The same principal would apply in this complaint.

Shri. Apte also took the plea of limitation in relation to OP No.2 without giving any details of the same. The complaint was filed on a cause of action which according to the Complainant arose on 29/01/07 when Rs. 38,000/- was paid to the Complainant. If that be so, impleadment of OP No. 2 by application dated 10/09/08 would not make the complaint time barred as against OP No. 2.

We find there is no merit in this appeal and accordingly we proceed to dismiss the same.

 

 
 
[HONABLE MR. JUSTICE N.A.Britto]
PRESIDENT
 
[HONABLE MRS. Smt.Vidhya R. Gurav]
MEMBER

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