SUDHANGSU BHUSAN DUTTA Vs. THE JOINT MANAGING DIRECTOR MANSUKH SECURITIES & FINANCE LTD., MR. BISWARUP BASU AND MRS. BHASWATI BASU

JUDGEMENT

(1.) There is delay of 41 days in filing this revision petition. For the reasons stated in the application for condonation of delay, the said delay is hereby condoned.

(2.) The State Commission, while placing reliance on Unit Trust of India Vs. Savitri Devi Agarwal,2000 CPR 25, and Morgan Stanley Vs. Kartick Das, 1994 4 SCC 225, dismissed the complaint of the petitioner on the ground that his case pertains to shares and the consumer fora have got no jurisdiction to try his case.

(3.) The case of Sudhansgsu Bhusan Dutta, the complainant/ petitioner is that he purchased some shares of Reliance Industries and other companies. At the request of Mr.Biswarup Basu and Mrs. Bhaswati Basu, OP2, the complainant invested his shares with the Joint Managing Director, Mansukh Securities and Finance Ltd., OP1, and in the process, handed over all his shares to OP1, with a direction to deposit the amounts in DMAT account of the complainant for the purpose of share trading. OP2, instead of transferring the shares to the account of the complainant, transferred the same to his wife's and his own account. Report was lodged with the Police Station.