AMARJIT SINGH Vs. JVG LEASING LIMITED

JUDGEMENT

(1.) The present appeal has been filed under Sec.15 of the Consumer Protection Act, 1986 [for short hereinafter to be referred as the C. P. Act] against order dated 16.3.2001 in Complaint Case No.689 of 1999 passed by the District Consumer Disputes Redressal Forum-II, U. T. , Chandigarh [for short hereinafter to be referred as the District Forum-II].

(2.) The contextual facts, narrated briefly, are as under.

(3.) The appellant/complainant, Mr. Amarjit Singh, resident of H. No.3229, Sector 46-C, Chandigarh in pursuance to an advertisement floated by respondent/opposite party invested Rs.3,01,000/- in 30,100 shares of Rs.10/- each in the Non Cumulative Redeemable Preference Shares vide Application No.18092 dated 30.6.1997, copy of the receipt has been brought on record as Annexure P-1. As per averments made, inter alia, the respondent/opposite party - Company neither allotted the above mentioned shares nor returned his money. The appellant/complainant vide his communication letter dated 20.1.1998 requested the respondent/opposite party to return his money with interest but the respondent/opposite party failed to do so. The appellant has alleged that respondent/opposite party has indulged in unfair trade practices by giving misleading advertisements in the papers. The appellant/complainant has further alleged that this act of respondent/opposite party has caused wrongful gains to them but the same has caused severe financial losses and other hardships to the appellant/complainant. The appellant/complainant has prayed to direct the respondent/opposite party to refund Rs.3,01,000/- and another sum of Rs.40,000/- has been claimed towards the loss of interests on the above amount and towards physical harassment, mental agony and litigation expenses.