MANJU BANSAL Vs. UNIT TRUST OF INDIA

JUDGEMENT

(1.) The present appeal, filed by the appellant, under Sec.15 of the Consumer Protection Act, 1986 (hereinafter referred to as 'the Act'), is directed against order dated 7.11.2001, passed by District Forum (Central), ISBT, Kashmere Gate, Delhi in Complaint Case No.2961/2001 entitled Mrs. Manju Bansal V/s. Unit Trust of India and Anr.

(2.) The facts, relevant for the disposal of the present appeal, briefly stated are that the appellant Mrs. Manju Bansal had filed a complaint under Sec.12 of the Act before the District Forum averring therein that she was the holder of 1,650 units of Master Shares under Folio No. MF 503181. It was stated in the complaint, filed by the appellant that the appellant had not been paid any dividend and bonus shares for Master Shares, due on 30.6.1993. It was further stated that the appellant had addressed a registered letter dated 23.4.1994 to respondent No.2 (M/s. M. N. Dastur and Co. Ltd.), the authorised Registrar and Transfer Agents of respondent No.1 (Unit Trust of India) for the above said Scheme. It was also stated that in the meantime, the appellant had also applied for 1,400/- Right Shares and an amount of Rs.19,500/- was deposited by the appellant with the respondent No.1 (UTI) vide receipt dated 26.4.1994 for the aboves aid purpose. It was stated that respondent No.1 UTI allotted only 100 Right Shares in favour of the appellant against 1,400 Right Shares and the excess amount, amounting to Rs.18,000/- was retained by the respondent No.1-UTI. The grievance of the appellant, in the complaint filed by her before the District Forum, in nutshell, was that the respondents not only failed to issue dividend and Bonus Shares to the appellant but also refused to refund the excess amount of Rs, 18,000/- retained by them, as a result of which the appellant had to suffer a lot of harassment and irreparable loss. In the complaint filed by the appellant, it was prayed that the respondents be directed to issue Right Shares, Bonus Shares and dividend with interest and to pay a sum of Rs.1,00,000/- for the financial loss sustained by her and the harassment caused to her.

(3.) The claim of the appellant in the District Forum was resisted by the respondents. In the reply/written version filed on behalf of the respondents, it was stated that there was no deficiency in service on the part of the respondents and that appellant was not entitled to any benefit because out of 1,650 shares, duplicates of 650 shares had been issued in 1992 and 300 shares were received for transfer from one Shri Kishore Gopal Bansal of House No.674-B Aggar Nagar, Ludhiana and another 300 shares were received for transfer from one Shri Ashish Bansal of the same address, which were transferred in the names of said Shri Kishore Gopal Bansal and Shri Ashish Bansal as per their requests.50 shares out of 1,650 shares had been transferred in the name of one Shri Satpal Mehra, resident of 56, Subzi Mandi, Amritsar. It was stated by the respondents in their reply that all the above facts were duly brought to the notice of the appellant. It was also stated in the reply that the appellant had renounced her right in respect of 1,400 Right Shares in favour of said Shri Ashish Bansal.