R WADIWALA & CO & 2 ORS; NAINESH JAYANTIBHAI WADIWALA; KAMAL GHANSHYAM WADIWALA Vs. CHANDRAPRABHA SUMANTRAI DESAI & 2 ORS; NILESH SHUKLA (HUF); NILESH SHUKLA

JUDGEMENT

(1.) The present revision petition is directed against the order of the Gujarat State Consumer Disputes Redressal Commission, Ahmedabad ('the State Commission') in Appeal nos. 487 and 465 of 2009, whereby the State Commission had dismissed the appeal preferred against the order of the District Consumer Disputes Redressal Forum, Surat ('the District Forum').

(2.) Briefly put, the facts relevant for the disposal of the revision petition are that the respondent no. 1 filed a consumer complaint against the petitioners as also Nilesh Shukla (HUF) and Nilesh Shukla, respondent nos. 2 and 3 (OP nos. 5 & 6) alleging that the complainant had executed contracts of selling shares through respondent nos. 2 and 3 of various shares of ACC Ltd., Glaxo India Ltd.,, Nestle India Ltd., Indian Hotels Co. Ltd., Southern Petrochemical Ltd., and BSES Ltd. The total sale price of which was Rs.4,64,524.18. Respondent nos. 2 and 3 traded these shares through petitioner no. 1 of which petitioner nos. 2 and 3 are partners and who are the sub broker of M/s G B Bhatt, broker on behalf of respondent nos. 2 and 3 (OP nos. 5 & 6). According to the complainant, despite transfer of these shares from her Demat account to the Demat account of petitioner no.1 the petitioner and respondent nos. 2 and 3 have failed to pay the entire sale consideration amount except Rs.90,000/- which was paid by the petitioners to the complainant from the account of respondent no. 2/OP no. 5.

(3.) Being aggrieved by the non-payment of the balance amount of Rs.3,74,524.18 the complainant filed a consumer complaint in the District Forum, Surat, seeking directions to the opposite parties including the petitioners to pay the balance consideration amount with 24% interest thereon, with effect from 15.03.2001. Besides Rs.25,000/- was claimed towards compensation for harassment, pain and sufferings.