∷ ORDERS ∷

1. The complaint is filed for a direction to the Karnataka bank to issue Rs.5,000/- shares or to refund the amount with interest at 18% p.a. with costs.
2. Heard the advocate for the complainant, then this matter set down for orders.
3. The points arose for our consideration are:-
   1. Whether the complaint is maintainable?
   2. To what order?
4. Our findings on the aforesaid points are as follows:-

Point No.1:- In the negative.

Point No.2:- As per final order for the following

∷ REASONS ∷

5. Point No.1:- The allegations in the complaint are that the complainant applied for Rs.5,000/- shares with 2^nd opposite party and submitted application with opposite party No.1 on 15.11.2016, he had sufficient balance in his account with State Bank of Mysore, Shivarampet Branch. But, in spite of it, opposite party Nos.1 and 2 not allotted the shares, thereby deficiency in service as such advocate for complainant sought for the issuing notice to the opposite parties.
6. In view of the following two judgements:-
   1. Vol.I (2016) CPJ 627 (NC) – Vijayakumar V/s Vikson Finance and Interest P.Limited
   2. Vol.I (2016) CPJ 658 (NC) – Jaimala A Subramanium V/s Reliance Port Folio Management.

The present complaint is not maintainable.  A person applied for allotment of shares is not a Consumer till shares are allotted to him.  Prospective investor being not a consumer could not file the consumer complaint by alleging deficiency in service in rendering service.  Further, investment in shares in a speculative transaction.

7. In view of the above order of National Commission, the present complaint filed for a direction to issue Rs.5,000/- share is not maintainable.  Hence, point no1.1 is answered in the negative.
8. Point No.2:- In view of the findings recorded on point No.1, the complaint is not maintainable.  Hence, the following

∷ ORDER ∷

1. The complaint is dismissed as not maintainable.
2. Return the original documents to complainant.

(H.M.SHIVAKUMARASWAMY)

PRESIDENT

(M.V.BHARATHI)                              (DEVAKUMAR.M.C.)

    MEMBER                                             MEMBER