KUNJ BEHARI KEJRIWAL Vs. CALCUTTA STOCK EXCHANGE LIMITED

JUDGEMENT

(1.) The short ground urged by the judgment-debtor appellant is that the principal part of the respondent's claim was not proved and the trial court erred in disregarding facts and the complete lack of evidence to pass a decree in such regard.

(2.) The appellant was a member of plaintiff Calcutta Stock Exchange. As a member broker, the appellant was obliged to furnish security so that if the appellant defaulted in respect of transactions with other member brokers, the stock exchange could make good the appellant's default to its other member brokers by paying out of the settlement guarantee fund which is the combined contribution of the member brokers' security.

(3.) At paragraph 20 of the plaint, the case made out is as follows: