LML LTD Vs. VED PRAKASH

JUDGEMENT

(1.) Neither me appellant nor the respondent appeared when this appeal came up for hearing. We have carefully gone through the records and proceed to dispose of the appeal.

(2.) Mr. Ved Prakash, complainant for short, applied for 25 equity shares offered by M/s. LML Limited as right issue. The complainant was stated to have deposited Rs.125/- in cash alongwith application for allotment with Bank of Tokyo Ltd. , Sansad Marg, New Delhi. He failed to receive any allotment advice. He wrote four letters from September, 1992 to October, 1994 but failed to receive any reply. The complainant, accordingly/filed the complaint for a direction to the opposite party to allot 25 equity shares or pay the price thereof @ Rs.135/- per share alongwith costs and compensation of Rs.1.500/-.

(3.) M/s. LML Limited, which was arrayed as opposite party, failed to appear. The complaint was allowed by order dated 29.9.1995 by District Forum-II directing the opposite party to issue 25 equity shares to the complainant and pay him Rs.500/- as costs/compensation. Aggrieved by the order, the opposite party has preferred mis appeal. A reply has been filed by the respondent.