S RATHINAVELU Vs. NEW INDIA ASSURANCE CO LTD

JUDGEMENT

(1.) This is an appeal against the order of District Forum Akola dated 12.4.93 passed in Complaint No.361/92. The complainants approached the District Forum, Akola alleging that they had hired the services of Opposite Party No.3, A. J. and Company for purchase of shares of Opposite Party Nos.1 and 2. The shares were purchased on or about 27.5.91 at Akola. The complainants alleged that they purchased the debentures at the rate of Rs.356.56 and 2nd call money were paid in October, 1991. The complainants alleged that they sent the debentures through the O. P. No.1 for transfer of the same in the joint names of the present complainants in the year 1991. The complainants alleged that although the debentures were transferred in November, 1991, the debentures were not sent in time, within two months from the receipt of the transfer application and therefore, claimed the loss of Rs.70,000/- in this complaint. The Opposite Parties remained absent and therefore, the District Forum proceeded ex parte against the Opposite Party. The District Forum held that complainants did not pay 1st call and 2nd call money in time and therefore, held that there was some deficiency in the service of Opposite Party in not transferring shares. Under the facts and circumstances of the case, the District Forum awarded Rs.1000/- towards compensation to the complainant. Feeling aggrieved thereby, the complainant filed this appeal claiming the amount of compensation for Rs.70,000/-.

(2.) We have heasd Shri Goenka, Advocate for the appellants, respondent remained absent. In our view, there is no substance in this appeal and it is liable to be dismissed, for the simple reason that complainants failed to place material on record before the District Forum for claiming Rs.70,000/- as compensation. According to Shri Goenka, transfer of shares were not made in the joint names of the complainants within a period of 2 months from the date of receipt of the transfer application. However, the learned Advocate failed to satisfy as to how the 2 months period is prescribed in the transfer of shares. The Opposite Parties may be having some difficulties in transfer of the shares, since the work involves lot of manual work. Under these circumstances, failures on the part of complainants in justifying the claim of compensation, in our view, the compensation of Rs.1,000/- granted by the District Forum is reasonable. Hence this appeal liable to be dismissed. ORDER the appeal stands dismissed.