C M GOPALASWAMY Vs. UNION OF INDIA

JUDGEMENT

(1.) THE appellant calls in question the validity and correctness of the order dated 17-6-1999 passed by the learned Single Judge dismissing the writ petition.

(2.) THE brief facts of the case are: petitioner-appellant was a member of the respondent 3-stock exchange. He was doing the business of the share broker in the name and style of M/s. Vimal and Company at No. 4, II Floor, Sujatha Complex, bangalore. He was, admittedly, a defaulter. His membership card was auctioned to recover the dues from him. After adjusting the dues and other expenses the balance was refunded to the appellant. The appellant was aggrieved that the respondent 3 levied default fee at 10% as per bye-law 337 of Bangalore Stock Exchange. Therefore, he filed writ petition. The learned Single Judge dismissed the writ petition. Hence, the present appeal.

(3.) WE have heard the learned Counsel for appellant and the respondents.