KANTHETI LAKSHMI Vs. GENERAL MANAGER, ICICI LTD.

JUDGEMENT

(1.) This appeal has been filed by the un -successful complainant in C.D. No. 25/1996 on the file of District Forum, Krishna at Machilipatnam.

(2.) The complainant, a resident of Machilipatnam, purchased five shares of the opposite party from the secondary market through a sub -broker and sent the share certificates alongwith transfer deed with necessary stamps on 8.6.1994 to the opposite party for effecting transfer. The opposite party though received them did not effect transfer of the shares and sent a letter dated 3.2.1995 seeking certain clarification. The complainant sent a letter of Mr. A.V.V. Satyanarayana, dated 30.11.1992, who sold the certificates to the complainant. However, after that there was no response from the opposite party nor the shares were transferred, hence the complaint.

(3.) The opposite party in its counter denied the allegations made in the complaint. They contended that the complainant was not a consumer as the transfer of the shares was a commercial activity and secondly that the share certificates were never received by the opposite party and the complainant did not produce any proof to prove otherwise. Since no evidence was produced, the District Forum accepted the contention of the opposite party that the letter dated 8.6.1994 which was supposed to have been sent under registered post acknowledgement due was not received by the opposite party and they received a subsequent letter dated 20.12.1994 and on this ground that complaint was dismissed, hence the appeal.