YOGDHYAN SINGH BANSAL Vs. XLO MACHINE TOOLS LTD

JUDGEMENT

(1.) The virtually successful complainant still appeals against the order of the District Forum, Hisar substantially granting the relief claimed.

(2.) The complainant-appellant has purchased 800 equity shares of the respondent-company and lodged the same with them for their transfer to his name. The primal grievance was that the said certificates had not been so transferred and consequently a direction to do so and further compensation was claimed.

(3.) The respondents in reply to the complaint categorically stated that the said shares had been actually transferred in the complainant's name and relevant certificates dispatched to him. Preliminary objections regarding jurisdiction etc. were raised, to which reference is now unnecessary because they have not been agitated before us. The appellant filed a detailed replication thereto. The District Forum opined that the matter was simple in view of the admission made by the respondent and directed that because the relevant documents had not been received by the appellant, he should submit an indemnity bond etc. to the company, who would issue duplicate certificate to him under registered cover. Because of the delay and harassment compensation was awarded in the shape of interest at 18% on the purchased price of the shares.