VERTEX SECURITIES LTD Vs. T CHACKO

JUDGEMENT

(1.) THE complainant claims to have deposited Rs.75,000/ - with Vazuthacaud branch of the petitioner -Vertex Securities Ltd. on 14 -10 -2000 for trading in shares. According to the complainant, the opposite party failed to observe the essential legal requirement for such trading despite receiving aforesaid deposit of Rs.75,000/ - and the said amount remained idle with it, though it should have been deposited in the share trading account. Alleging deficiency on the part of the opposite party, in rendering services to him, he approached the District Forum at Thiruvananthapuram, seeking refund of the aforesaid amount of Rs.75,000/ - along with interest at the rate of 18% per annum. He also sought compensation amounting to Rs.2,00,000/ - and cost of litigation amounting to Rs.27,000/ -.

(2.) THE complaint was resisted by the petitioner inter alia on the ground that it was barred by limitation and the complainant was not a consumer within the meaning of Section 2(1)(d) of the Consumer Protection Act, 1986. The District Forum vie its order dated15 -11 -2012 upheld both the contentions and accordingly dismissed the complaint.

(3.) BEING aggrieved from the order of the District Forum the complainant approached the State Commission