COCHIN STOCK EXCHANGE LTD. Vs. JOSE KURIAN M.

JUDGEMENT

(1.) A decree for money is under challenge, by the defendant.

(2.) The plaintiff was a trading member of the defendant-Stock Exchange. To become a member of the defendant, security deposits were to be given. In addition to the original security deposit, additional security deposits were also given by the plaintiff on three occasions. The plaintiff surrendered his membership and ceased to be a member since the year 2014. The security deposits excluding the third additional security deposit was refunded to the plaintiff. Since the third additional security deposit was not refunded, the suit is filed.

(3.) The basic facts are not disputed by the defendant. The claim of the plaintiff is challenged by the defendant relying on Ext B2, an order dated 2.2.2006, passed by the Securities and Exchange Board of India. According to the defendant, the said order dis-entitles the plaintiff to claim back the amount.