Per Mr.S.R.Khanzode, Hon’ble Presiding Judicial Member
This appeal takes an exception to an order dated 25/02/2011 passed in consumer complaint no.31/2010; Sushila Satyapal Sanghvi v/s. M/s.ICICI Securities Ltd., Mumbai by the District Consumer Disputes Redressal Forum, South Mumbai. Consumer complaint stood dismissed and hence this appeal by the original complainant.
The consumer complaint pertains to alleged deficiency in service on the part of M/s.ICICI Securities Ltd., respondent/original opponent (hereinafter referred as ‘respondent’). The respondnet discontinued Online trading facility given to the complainant since she failed to comply the requirement spelt out for executing fresh documents, as the earlier set of documents were claimed to have been damaged. The complainant claimed compensation for alleged deficiency in service @ `100/- per day for deactivation of Online trading facility w.e.f.02/09/2009, `2,70,000/- towards the sale of the shares under compulsion of the price, `1,50,000/- for various expenses and, further, `1,50,000/- for mental torture and agony. Forum found that the complainant is not a ‘consumer’ as the services were hired for commercial purpose.
Admittedly, trading in shares for which Online trading facility is obtained amounts to hiring of services for commercial purpose since trading in shares would result either in loss or profit. It is further rightly pointed out by the forum that the case of the complainant did not fall within the explanation of 2(1)(d)(ii) of the Consumer Protection Act, 1986, and there is no averment made to that effect in the complaint and, hence, it is not a consumer dispute.
Further, alleged deficiency in service is in respect of closing of the Online trading account since the complainant failed to fulfill the requirement by executing fresh set of documents. Respondent asking to execute such documents is as per the directions of the Regulating authorities and, therefore, closing of the account on failure of the complainant to comply the said direction will not amount to any deficiency in service on the part of the respondent. For this reason also dismissal of consumer complaint cannot be faulted with.
Thus, for the reasons stated above, we find no fault with the ultimate dismissal of the consumer complaint by the forum. Appeal is devoid of any substance and, holding accordingly, we pass the following order:-
ORDER
Appeal stands dismissed.
Parties to bear their own costs.
Copies of the order be furnished to the parties.
Pronounced on 12th September, 2011.
