ANJU TIWARI Vs. KHAITAN HOSTOMBE SPINELS LTD

JUDGEMENT

(1.) this appeal under Sec.15 of the Consumer Protection Act, 1986 , is directed against the order dated 10th November, 1998 in Complaint No.48/92 by the District Consumer Disputes Redressal Forum, Durg (hereinafter called the 'distt. Forum' for short), dismissing the appellant's complaint.

(2.) The complainant's case stated in brief is, that he had applied for allotment of 500 shares to the respondent No.1. As per allotment advice, he was allotted 300 shares on payment of additional amount of Rs.500/-. It was further averred that as Rs.500/- were to be deposited by the appellant, he got prepared a Bank Daft for Rs.500/-, drawn on Bank of Baroda, Durg payable to Allahabad Bank at Nagpur and sent it through Air Men Courier Service to Allahabad Bank, Nagpur. It was alleged that though the draft was received on 14.9.1991, by the respondent No.2/allahabad Bank, it failed to remit and credited the same amount in favour of respondent No.1. Therefore, the complainant could not succeed in securing the allotted shares and suffered loss. He claimed that compensation of Rs.18,000/- besides the price of shares Rs.3,000/- be directed to be awarded in his favour.

(3.) The complaint was resisted by the respondents. The stand of the respondent No.2/bank was that the draft was received by it on 17.9.1991, while the issue of shares had already closed on 16.9.1991. Therefore, the draft as above was returned to the complainant. It was also averred that the complainant had also filed a civil suit for recovery of the said amount hence, the complaint was not tenable.