Sri. P.Ananda Rao filed a consumer case on 27 May 2008 against M/s Karvey Computer Share Pvt. Ltd. AND Another in the Mysore Consumer Court. The case no is CC/08/98 and the judgment uploaded on 30 Nov -0001.
Karnataka
Mysore
CC/08/98
Sri. P.Ananda Rao - Complainant(s)
Versus
M/s Karvey Computer Share Pvt. Ltd. AND Another - Opp.Party(s)
Shama Bhai
27 May 2008
ORDER
DISTRICT CONSUMER DISPUTES REDRESSAL FORUM MYSORE No.845, 10th Main, New Kantharaj Urs Road, G.C.S.T. Layout, Kuvempunagar, Mysore - 570 009 consumer case(CC) No. CC/08/98
Sri. P.Ananda Rao
...........Appellant(s)
Vs.
M/s Karvey Computer Share Pvt. Ltd. AND Another M/s Reliance Petroleum Ltd.,
...........Respondent(s)
BEFORE:
1. Smt.Y.V.Uma Shenoi 2. Sri D.Krishnappa3. Sri. Shivakumar.J.
Complainant(s)/Appellant(s):
1. Sri. P.Ananda Rao
OppositeParty/Respondent(s):
1. M/s Karvey Computer Share Pvt. Ltd. AND Another2. M/s Reliance Petroleum Ltd.,
OppositeParty/Respondent(s):
1. Shama Bhai
OppositeParty/Respondent(s):
ORDER
Counsel for the Complainant and the first Opposite party, the admin co-ordinator Sri.H.N.Satheesh are present. The counsel for the Complainant reports the receipt of a cheque for Rs.30,187/- from the first Opposite party and submits that the first Opposite party has paid the entire amount sent by the Complainant for investing that amount for purchase of shares and paid interest in a sum of Rs.8,000/- add but there has been delay on the part of the Opposite party in refunding this money, as such they are liable to pay damages and thereby insists upon a direction to the Opposite parties to pay damages to the Complainant. The representative of the first Opposite party submits though the Opposite party had received the money from the Complainant for purchase of shares but they could not issue shares to the Complainant and therefore it is not in every case that the parties who are applying for purchase of shares are entitle to get the shares and in the event of the Company not able to sell the shares, it is at liberty to refund the money. Accordingly the amount has been refunded with interest but submits that there is little delay in returning the money because of the bank transaction. However, that may not be a ground for the Opposite parties to cause delay in refund of money of the parties to whom they cannot issue shares. Having regard to the circumstances of the case, we proposed to impose the damages of Rs.3,000/- against the Opposite parties. Hence, we pass the following order:-Order1. Complaint is allowed.2. The Opposite parties are jointly and severally directed to pay damages of Rs.3,000/- and cost of Rs.1,000/- to the Complainant. 3. The Opposite parties in the event of failing to pay the damages within 30 days from today shall pay interest at 15% p.a. from the date of this order till the date of payment.