West Bengal

South 24 Parganas

CC/509/2014

Sri Sukumar Guha Thakurta, S/O Late Dhirendra Nath Guha Thakurta. - Complainant(s)

Versus

1. M/S. P.R. Productions Private Limited, Registered Cine Film Laboratory & Processing Company using - Opp.Party(s)

31 Mar 2015

ORDER

     DISTRICT CONSUMER DISPLUTES REDRESSAL FORUM

SOUTH 24 – PARGANAS , JUDGES’ COURT, ALIPORE KOLKATA-700 027

 

C.C. CASE NO. _509_ OF ___2014_____

 

DATE OF FILING : 10.10.2014_     DATE OF PASSING JUDGEMENT:_31.3.2015__

 

Present                        :   President       :   Udayan Mukhopadhyay

 

                                        Member(s)    :   Dr. (Mrs.)  Shibani Chakraborty

                                                                             

COMPLAINANT             :    1. Sri Sukumar Guha Thakurta,s/.o late Sri Dhirendra Nath Guha

                                                    Thakurta.

                                                2.   Smt. Gopa Guha Thakurta,w/o Sri Sukumar Guha Thakurta

                                                3.   Sri Kaushik Guha Thakurta,s/o Sri Sukumar Guha Thakurta

                                                4.   Sri Tapan Bhattacharjee,s/o late Sri Shib Shadhan Bhattacharjee

                                                All of No.16, Marcus Lane, Kolkata – 700 007. 

 

-VERSUS  -

 

O.P/O.Ps                                 :   1.  M/s P.R Productions Private Limited Registered Cine Film Laboratory & Processing Company using the brand name “Film Services” ,officiating minor shareholder Joydeb Ghosh, since deceased, presently controlled and managed by

                                                2.    Ajit Kar,s/o late L.N. Kar

                                                3.     Som Nath Kar,s/o Ajit Kar

                                                4.    Prodip Kar, s/o Jitendra Chandra Kar

                                                5.    Subir Roy,s/o late Amitava Roy

                                                All 2 to 5 of 38, Golf Club Road, now renamed as Uday Shankar Sarani, P.S. Jadavpur, Kolkata – 33.

________________________________________________________________________

 

                                                            J  U  D  G  E  M  E  N  T

 

Sri Udayan Mukhopadhyay, President                                    

            The  case of the complainants in short is that Complainants purchased different quantities of shares of O.P-1. Upto 1995 complainants used to get notices of Annual General meetings of the company but the O.Ps suddenly discontinued sending notices of Annual General Meetings of the company in a willful manner . . The O.P nos. 2 to 4 forcibly took control of the company’s office and had recorded their own names falsely therein as shareholders by alleged allocation of 2000 shares each in their own names – without any similar offer or consultation or consent of the complainants as shareholders of the company who had the full right by virtue of their shareholding in the company . The O.Pnos. 2 to 4 completely discontinued the Film production business  and recorded their names falsely as new Directors and Shareholders of the company .

            The O.P-4 who was entrusted with General power of Attorney by the complainants to help him in correct restoration of his shares, which he, along with his siblings, inherited from his father, was quickly ‘befriended’ by the O.Ps bringing him to their “fold” and recorded him as a shareholder Director in the company  and the O.p-4 is refusing to return the “General Power of attorney” back to the complainants .

            Complainants filed this case praying for restoration and recordings of the complainants’ names as continuing shareholders of the company in company’s Records and Registers along with full details of the number of shares belonging to them respectively and for rightfully allotments of additional shares to the complainants equal to the number of shares as were allotted by the company only to and in favour of the O.Ps after 1995 depriving the complainants their entitlement as shareholders of the company etc.

            The O.P nos. 2 and 3 by filing written version contested the case,  denying all material allegations leveled against them.

            It is the positive case of the O.P nos. 2 and 3 that they are not the employee on 17.1.1985 and the case was filed  by the complainant with malafide intention and no cause of action arises and the case is not maintainable.  

            Points for decision in this case is whether there is any deficiency in service on the part of the O.P and /or unfair trade practice adopted by the O.P or not.

                                                            Decision with reasons

            We find that the dispute of this case is regarding shares since prayer no.2 is allotment of additional shares to the complainant equal to the number of shares as were allotted by the company only to and in favour of the O.Ps after 1995. 

            Be that as it may, we are aware two decisions ; one reported in 2011(4) CPR page 24 of Chattisgarh SCDRC Raipur and another is NCDRC New Delhi ,wherein Hon’ble NCDRC in disposing of Revision petition no.2821 of 2012 has observed that “ we find that the definition of “complainant/Consumer” “Consumer dispute” and “Service” as defined in section 2(1) of the C.P Act, 1986 ( as amended) do not cover the claims arising under the present dispute and in that form the aforesaid definition the complainant is not a consumer and the controversy involved is not a consumer dispute. The complainant is engaged in trading of shares i.e. engaging speculative transaction. The NCDRC has held in Unit Trust of India Vs. Savitri Devi Agarwal (II) 2000 CPJ (NC) that the Consumer Protection Act is not for entertaining compensation , speculative transaction or loss”.

            The ld. Advocate of the O.P has submitted that this case is not maintainable in this Forum and to that effect he has taken positive plea in their written version. Accordingly, we find that the dispute of the instant case is regarding shares etc. and complainant being a share holder cannot be a consumer of the O.P within the meaning of Section 2(1) (d)(ii) of the C.P Act, 1986 and as such the present complaint is, therefore, not legally maintainable under that Act.

 

 

 

 

 

            With that observation ,it is

                                                                        Ordered

That the application under section 12 of the C.P Act filed by the complainant cannot be maintainable under the C.P Act since the transaction is speculative one but the complainant is at liberty to agitate the matter in appropriate Forum under the SEBI Act ,if he so desire.

In such circumstances we make no order as to cost.

Let a plain copy of this order be handed over the complainant for his information. 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

                                                Member                                               President

 

 

Dictated and corrected by me

 

 

 

 

                        President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The judgement in separate sheet is ready and is delivered in open Forum. As it is ,

 

Ordered

That the application under section 12 of the C.P Act filed by the complainant cannot be maintainable under the C.P Act since the transaction is speculative one but the complainant is at liberty to agitate the matter in appropriate Forum under the SEBI Act ,if he so desire.

In such circumstances we make no order as to cost.

Let a plain copy of this order be handed over the complainant for his information. 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            

                                                Member                                               President