RELIANCE POLYPROPYLENE LTD Vs. DEEP NARAIN GUPTA

JUDGEMENT

(1.) This revision petition has been filed by the Petitioners/Opposite parties against the impugned order dated 27.3.2012 passed by the West Bengal State Consumer Disputes Redressal Commission, Kolkata (in short, 'the State Commission') in S.C. Case No. FA/220/2011 Reliance Polypropylene Ltd Vs. Deep Narain Gupta by which, while dismissing appeal, order of District Forum allowing complaint was upheld.

(2.) Brief facts of the case are that complainant/respondent's 500 shares of RPPL were converted into 150 shares of Reliance Industries Ltd. (RIL), which were not received by the complainant. As per request of OP No. 3, complainant also executed indemnity bond in respect of 200 shares, which according to OP 3 were misplaced/lost. It was further alleged that without any specific instructions from the complainant, OP transferred rest of the shares to a third party; namely, M/s. Credit Capital Investment Trust Co. Ltd., Mumbai and thus, by not delivering 150 shares of RIL, committed deficiency in service and filed complaint before the District Forum. OPs contested and submitted that District Forum has no jurisdiction to deal with this complaint and denied all the allegations and prayed for dismissal of the complaint. Learned District Forum after hearing both the parties, allowed complaint and directed OPs 1, 2 & 3 to convert shares of RPPL into 150 shares of RIL and deliver shares with bonus shares and dividend to the complainants since 1994 along with compensation of Rs.50,000/- and litigation cost of Rs.500/-. Appeal filed by the petitioners was dismissed by learned State Commission vide impugned order against which, this revision petition has been filed.

(3.) Heard learned Counsel for the parties at admission stage and perused record.