KISHOR VANDRAVANDAS GORADIA Vs. SIEMENS LTD

JUDGEMENT

(1.) This appeal arises out of order/award dated 29/09/2008 passed in consumer complaint no.36/2007, Kishor Vandravandas Goradia & Ors. V/s. Siemens Ltd. 7 Ors. passed by District Consumer Forum, Central Mumbai (Forum below in short).

(2.) According to appellant/org.complainant they hold 278 shares of the face value of Rs.10/- of respondent/opposite party no.1 /Siemens Ltd. In or about month December-2005 they realized that they are not receiving dividends from respondent/opposite party no.1/ Siemens Ltd. (hereinafter referred as company) against their shares for last 2-3 years. Therefore, they made enquiry in the month of June-2006. They received two dividends cheques for value of Rs.1912/-. They made further enquiry as to for which shares the dividends were received. Subsequently, they came to know that for the above referred equity shares, in the year 2002, duplicate shares were issue and those shares were also transferred in the name of Mr.Amrut Mehta in the year 2002. Alleging the fraud for which a criminal complaint is also lodged and being investigated, simultaneously alleging deficiency in service on part of company and respondent/opposite party no.2/MCS Ltd. for being negligent in issuing the duplicate share certificate and transferring those shares, this consumer complaint is filed inter alia claiming relief as under:-

(3.) Since this appeal filed by the original complainant for being not satisfied with the award, we prefer to not to go to the question of limitation as well as issue as to whether the complainants are the consumers within the meaning of Section 2(1) (d) of Consumer Protection Act, 1986 (hereinafter referred as the Act for sake of brevity), particularly with reference the explanation to the said provision. Admittedly, the complainants are investors and carried trade in share, which is a commercial activity.