UNIT TRUST OF INDIA Vs. V CHANDRA SEKHAR

JUDGEMENT

(1.) This appeal has been preferred by the opposite parties 1 and 2 i. e. , Unit Trust of India and M. N. Dastur and Company Ltd. , questioning the order of the Nellore District Forum in O. P. No.658/1997 dated 13.7.1998. The complainant in that O. P. is the first respondent before us and the opposite parties 3 to 6 in that O. P. are respondents 2 to 5 before us.

(2.) Respondents were served. The first respondent i. e. , complainant, sent his written submissions and the same was received by this Commission on 21.4.1999. We have the record of the District Forum before us.

(3.) The case of the complainant before the District Forum was that he purchased 300 UTI Master shares bearing certificate No.01440844, 01527440, 01527441, 01527438 and 01527439 from a third party and submitted them for transfer to the first appellant on 27.11.1993. As the transfer was not effected and the units were not returned to him he sent reminders on 25.10.1993, 7.6.1994 and 2.11.1994 to the appellants and again on 27.7.1995 to the second appellant. Thereafter he received a reply from the second appellant stating that as per their record the transfer documents for the 300 UTI Master shares in question were not received and that on verification of their record they found that the 300 UTI Master shares stood transferred to respondents 2 to 4 (opposite parties 3 to 5 in the O. P. ). It was also stated that as regards the 100 shares bearing distinctive Nos.0150571786 - 885 under Folio No. MF 660987 the holder in turn transferred the shares to Morgan Grenfell Trust Corpn. (C.10 Ltd.) the 5th respondent (opposite party No.6 in the O. P. ). Thereafter the complainant got issued a Lawyer's notice dated 3.2.1997 to the second appellant and also another notice dated 26.3.1997 to respondents 2 to 5 and the second appellant and presented this complaint before the Nellore District Forum on 27.8.1997.