GURDIAL SINGH Vs. UNITED LAND AND HOUSING LTD

JUDGEMENT

(1.) The two complainants before the State Commission, Chandigarh, who are husband and wife, had purchased 2000 shares each in M/s. United Land & Housing Co. Ltd. (first respondent company) in December, 1985 and January, 1986 respectively with a stipulation that the Company will repurchase these shares if so required by the complainants after the expiry of three years. The grievance with which the complainants approached the State Commission, Chandigarh, was that the Company had defaulted in honouring their undertaking to re-purchase all the shares, since it had re-purchased only 400 shares. The State Commission investigated into the complaint and awarded to the complainant No. 1 a sum of Rs. 33,600/- being the buy-back value of 1,600 shares at the rate of Rs. 21/- per share and Rs. 42,000/- to the complainant No. 2 as buy-back value of 2,000 shares.

(2.) The complainants have come up with First Appeal No. 115/92 contending that they should have been awarded also adequate compensation for the inconvenience and harassment caused to them by reason of the failure on the part of the Company to re-purchase all the shares.

(3.) First Appeal No. 124/92 has been filed by the United Land & Housing Limited (Opposite Party No. 1 before the State Commission) and the main contention raised by the appellant is that the dispute raised by the complainants before the State Commission was not a 'Consumer dispute' at all and hence no relief should have been granted to the complainants under the Act.