AMRUT INDUSTRIES LTD Vs. G GOPALASWAMY

JUDGEMENT

(1.) The opposite party M/s. Amrut Industries Ltd. , against which an award has been passed by the District Forum is the appellant. The case of the 1st complainant (2nd complainant is the Pugalur Consumer Protection Council) is that he has purchased 400 shares of the opposite party Company in the Stock Exchange. He has applied to the Company for effecting name transfer sending the shares alongwith his application, but the Company has not transferred so. This amounts to deficiency in service on the part of the opposite party. On these allegations the complaint has been filed.

(2.) The opposite party filed a counter in the form of a letter addressed to the President of the District Forum stating inter-alia that there was no negligence or fraudulent act on their part.

(3.) The District Forum directed the opposite parties to return the 400 shares to the complainant after transfering the shares in his name and pay a compensation of Rs.3,000/- and also cost of Rs.500/-. It further ordered that in case the shares had been already transferred to a third party the opposite party shall send fresh shares numbering 400 of the face value of Rs.10/- each. to the complainant.