Order No. – 4      Date - 22.03.2022

Ld. Advocate for the complainant is present.

Today fix for passing necessary order.  I heard the matter in full.

It is the case of the complainant, that the complainant company got an entitlement of the right shares, of the Opposite Party No.1 of Rs.10/- each at a premium of Rs.50/- each, totaling of Rs.60/- each, in the ratio of 1:1, as on the record date i.e. 22.12.2021.  The complainant company got the information relating to the above right entitlement of the shares from the BSE Stock Exchange, where the Opposite Party No.1 shares are listed.  The Opposite Party No.1 sent the Right Form entitling the shares of 10,001 Equity Shares of Rs.60/- each by e-mail dated 29.12.2021.  On receipt of the above mentioned Right Form, complainant company sold 5,001 existing Equity Shares at an average price of Rs.160/- each on the BSE Stock Exchange.  The contract note as an evidence of the sale of the above Equity Shares, through Registered Share Brokers with SEBI, between 28.12.2021 to 05.01.2022.  The intension of the above sale was to arrange the funds required to subscribe to the rights entitlements credited in complainant company Demat account.  The amount so arranged is lying idle in complainant company bank account.  Due to this above illegal and wrong action, complainant company suffered losses to the extent of Rs.6,65,167/-.

Hence, this complaint case,

From the above petition of complaint the relief as well as the subject matter relating to share markets and company affairs.

So, in my view, this case is not within the purview of the Consumer Protection Act, 2019.

Hence, the prayer of admission of this case is rejected, accordingly petition of complaint is dismissed.

I make it clear that this order will not create any bar to file this case before the appropriate Forum for proper relief accordingly.

No order as to cost.