TMI Blog1993 (10) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... Y AKAR, Y. KRISHAN AND JUSTICE B.S. YADAV, MEMBERS R.K. Garg, Advocate for the Complainant. Dev Anand Misra and P.N. Misra for the Respondent. ORDER Krishan, Member - Originally the complainant had filed a complaint before the State Consumer Disputes Redressal Commission, Union Territory of Chandigarh alleging unfair trade practice, deficiency in service and charging more than the actual price in the purchase of shares by the opposite Party, a share and stock broker, on behalf of the complainant. 2. According to the complainant, the opposite party had undertaken to purchase shares on his behalf and on behalf of his nine family members (who are complainants in Petition Nos. 19 to 27) at the commission specified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons the complainant's claim would be over Rs. 13.71 lakhs. We in our order of 7th December, 1992 had observed that 'From a mere reading of the complaint petition, it becomes manifest that the real valuation of the main complaint petition will exceed Rs. 10 lakhs with the result that the State Commission is not the appropriate forum before which the complaint can be instituted'. Hence all the complaints were withdrawn from the State Commission and were treated as original complaints on the file of this Commission. 4. According to the version of the complainant himself, the main contro- versy in this petition is that the opposite party respondent was acting on behalf of the petitioner for the purchase and sale of shares and were therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es to him and that he has sought to manufacture a dispute to delay and/or avoid making payments to him. 6. Having gone through the record and hearing the parties, we have serious doubts as to whether this is a complaint maintainable under the Consumer Protection Act. In any case, it is evident from narration of facts stated above that elaborate evidence will have to be taken regarding purchase/sale of shares, their prevailing prices in the market. Again, the transactions of sale and purchase were made on telephonic instructions. So elaborate evidence will have to be taken to establish what were the precise instructions given by the complainant to the respondent broker etc. Further allegations of fraud and manipulation of accounts cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
