ORDER BELOW EXHIBIT 1.
PER SHRI. S.B.DHUMAL - HON’BLE PRESIDENT :
1) Heard Complainant in person.
It is submitted by the Complainant that in the year 1999, he hired services of Opposite Party No.1 & 2 for purchase of 1000 Equity Shares of SU-Raj Diamonds & Jewellery Ltd. at NSE, Mumbai. He had entered into Contract Note, dtd.25/01/1999 with Opposite Party No.1. As per the terms and conditions of Contract Note, he was supposed to receive Share Certificates within 6-10 weeks from the date of Contract Note. It is grievance of the Complainant that till today Opposite Parties have not issued aforesaid share certificates to him and thereby he has suffered loss. In this complaint, the Complainant has prayed to direct Opposite Party No.1 & 2 to deliver aforesaid 1000 shares to him and to pay liquidated damages/compensation, cost of this proceedings, etc.
2) From the averment made in the complaint, it is clear that cause of action for this complaint took place in the year 1999 as the Complainant was supposed to receive share certificates of 1000 shares of SU-Raj Diamonds & Jewellery Ltd. within 6-10 week from the date of Contract Note. It is submitted by the Complainant that cause of action for this complaint arose as and when price of aforesaid equity shares goes up and down. Further, he has submitted that cause of action is continuous. Aforesaid submissions made by the Complainant are imaginary, misconceived and erroneous. Cause of action for this complaint took place in the year 1999 and the Complainant was supposed to file complaint within 2 years from the date of cause of action as prescribed under Sec.24(A) of the Consumer Protection Act, 1986. The Complainant has not filed an application for condonation of delay. Delay of more than 10 years is caused in filing of this complaint. The complaint is hopelessly time barred.
3) Further, it is to be noted that as per the Complainant, he hired the services of Opposite Party No.1 & 2 for purchase of 1000 shares. Trading in shares is commercial activity. The Complainant has filed similar five complaints alongwith this complaint in which he has claimed purchase of large number of shares. So it is clear that the Complainant is dealing in shares on large scale. It is commercial activity and therefore, as per the amended provisions of the Sec.2(1)(d)(ii) of the Consumer Protection, 1986, the Complainant is not a ‘Consumer’ as he has availed services of Opposite Parties for commercial purpose. Hence, complaint is dismissed. No order as to cost.
