LIMITED Vs. SUNDER DEVI

JUDGEMENT

(1.) This is an appeal against the judgment and order dated 25.6.1994 passed by District Consumer Forum, Shahjahanpur in Complaint Case No.120/1994.

(2.) The facts of the case stated in brief are that the complainant had purchased 300 Shares on 24.12.1991 after paying a sum of Rs.7,170/-. These shares were sent through Courier on 15.4.1992 to the opposite parties. The opposite party received the shares but did not take any action for transfer of the shares in the name of the complainant. Reminder was also issued on 18.1.1993 and a notice dated 26.8.1993 was also served on opposite party informing them that a complaint lodged with Sewa, Bombay which was registered by the Security of Exchange Board of India. The opposite party also did not take any action. By letter dated 14.6.1993, the opposite parties informed that the share certificates had been lost and affidavit and indemnity bond in prescribed form was required to be submitted. These formalities were completed by the complainant on 27.7.1993 and 1.9.1993. Even after complying the formalities, the share certificates have not been transferred, as such the complainant was deprived of the dividend from 1992 to 1994. The complainant has claimed compensation. The opposite parties, after service of notice did not file any written statement.

(3.) The learned District Consumer Forum, after considering the case of the parties, creed the claim for Rs.7,170/ as the cost of the shares with 12% per annum interest there on from 5.4.1992 till the date of payment. A an of Rs.5,000/-. as exemplary damages and 5,500/- as cost was also awarded.