LAWS(NCD)-2005-9-160

SHARMA AND CO Vs. ANJALI

Decided On September 23, 2005
Sharma And Co Appellant
V/S
ANJALI Respondents

JUDGEMENT

(1.) Appellant is a broker dealing in shares and units. Respondent purchased various shares and units of UTI from the appellant for an amount of Rs.21,837. Units of UTI when sent to the UTI were returned as bad delivery and in spite of several complaints lodged by the respondent with the appellant for return of good shares and units, the appellant did not pay heed and on account of deficiency in service has been directed, vide impugned order dated 28.9.2001, to pay a sum of Rs.21,837 along with interest @ 12% from the date of lodging of the complaint till its realisation and compensation and cost of Rs.2,000.

(2.) Through this appeal the appellant has assailed the impugned order on multifarious grounds. Firstly that the respondent is not a consumer, secondly that the complaint has not been filed before the appropriate forum and thirdly that the respondent has concealed material facts and has filed the complaint with mala fide intention and to harass the appellant as respondent failed to furnish bank clearance certificate, income tax clearance and other documents.

(3.) In our view none of the contentions raised by the appellant has substance. The entire transaction took place at Delhi and, therefore, the District Forum at Delhi had the territorial jurisdiction. The nature of service provided by the broker dealing in shares and units to its consumer falls within the 'services' defined under Sec.2 (1) (o) of the Consumer Protection Act as these services are provided against consideration and are with regard to financial matters.