This is a discussion on Fairdeal Investments within the Investment forums, part of the Financial Services category; Consumer Complaint No: 54/2009 Date of presentation: 24.04.2009 Date of decision: 21.01.2010 Hardev Singh Verma S/O Shri Ganga Ram Verma, ...
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Consumer Complaint No: 54/2009
Date of presentation: 24.04.2009
Date of decision: 21.01.2010
Hardev Singh Verma S/O Shri Ganga Ram Verma,
Resident of Village Kheri Road, Rajgarh,
District Sirmour, at present Branch Manager,
Lead Bank Office UCO Bank,. Naya Bazar,
Nahan, District Sirmour, H.P.
1. M/S Fairdeal Investments, Bhatia House, Paonta
Sahib through its Managing partner/signatory
Shri Harvinder Singh S/O Shri Dalip Singh.
2. Shri Harvinder Singh S/O Shri Dalip Singh,
Authorized Signatory of the Firm M/S Fairdeal
Investments Bhatia House, Paonta Sahib,
District Sirmour, H.P.
For the complainant: Mr. Inder Singh, Advocate.
For the Opposite Party: Exparte.
O R D E R:
Sureshwar Thakur (District Judge) President:- The complainant, Hardev Singh Verma, has instituted this complaint, by invoking the provisions of Section 12 of the Consumer Protection Act, 1986. The complainant avers that, in the year 2004, he purchased one thousand share of Petronet LNG Limited and in the year 2005, one hundred shares of Maruti Udyog Limited and in the year 2007, one thousand six hundred shares of UCO Bank, the value whereof in the year 2007-08, was Rs.3,08,140/-. The complainant avers that the OP was to transfer the aforesaid shares in his account D. Mat No.10229553 with master capital Chandigarh, enabling him to sell the shares. He avers that when the market of the aforesaid shares was at the peak, he tried to sell out the aforesaid shares, but came to know that the aforesaid shares were not transferred in his account with master capital. The complainant, accordingly informed the OP through letter dated 20.02.2008, and requested them to transfer the aforesaid shares to his account, but of no avail.
Hence, feeling dissatisfied and aggrieved by the act of the OP, the complainant avers that there is apparent deficiency in service on the part of the OP, and, accordingly, the relief to the extent, as detailed in the relief clause, be awarded in favour of the complainant.
2. Notice of this complaint was issued to the OPs, by way of registered AD, but the OPs, despite valid service through RAD, neither the OPs, put in appearance before this Forum, nor filed any reply to the complaint, hence, was ordered to be proceeded against exparte, vide zimni order dated 16.07.2009
3. Thereafter, the complainant led evidence in the shape of affidavit, in support of his claim.
4. We have heard the learned counsel for the complainant and have thoroughly scanned the entire record of the case.
5. The complainant in support of his claim, as asserted in the complaint, has filed his own affidavit corroborating the facts as detailed in the complaint. He has also filed a copy of detailed transaction ledger Annexure-A, and Annexure-B, copy of the letter. Besides this, he has also placed on record the copy of the legal notice issued to the OPs. Since, the averments, as made in the complaint by the complainant, hence, have remained un-repulsed and un-benumbed, on record by non-adduction of rebuttal evidence on behalf of the OPs, as such, the only inference which sprouts, from, the above, is, that the allegations as asserted in the complaint, are, true and correct. Hence, it is held that the act of the OPs, in, not transferring the shares to his D.Mat account No.10229553 with master capital Chandigarh, has, not, only committed deficiency in service, but, also, indulged in an, unfair trade practice, thereby causing him financial loss.
6. Consequently, we allow this complaint and direct the OPs to transfer the shares to his D. Mat Account No.10229553 with Master capital Chandigarh, within a period of and also pay him damages of Rs.10,000/- for causing him pain, suffering and inconvenience. The litigation cost, is, quantified at, Rs.1000/- payable by the OPs, to the complainant. The learned counsel for the complainant has undertaken to collect the certified copy of this order from the office, whereas, a certified copy of this order shall be sent to the OPs through UPC, for compliance. The file after due completion, be consigned to record room.Regards,
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