THE CALCUTTA STOCK EXCHANGE LIMITED Vs. ANURADHA MALIK

JUDGEMENT

(1.) The plaintiff as a stock exchange has sought to recover amounts of default from the defendant as its member along with interest thereon. According to the plaintiff, the defendant has failed to honour its obligations under three settlements, namely, 20001148, 20001149 and 20001150.

(2.) The defendant has filed a written statement along with a counter claim. According to the defendant, the plaintiff ought not to have stopped the trading facilities of the defendant. In any event, the plaintiff ought to have sold the shares held as securities on March 9, 2001. Taking the value of the securities available with the plaintiff on account of the defendant as at March 9, 2001 and adjusting the same against the liabilities of the defendant, the plaintiff is liable to pay the defendant. The defendant claims such sum along with interest from the plaintiff in its counter claim.

(3.) The plaintiff has filed an additional written statement denying the claims made by the defendant in the counter claim. Eight issues were settled by the Order dated February 24, 2016. Such issues are as follows: -