Share allotment applicant not a consumer; complaint also failed for limitation and was dismissed as not maintainable.

A person who merely applies for allotment of shares before allotment is only a potential investor and does not acquire the status of a consumer. The complaint was also held to be barred by limitation because the cause of action arose when the share-allotment application was submitted, yet the complaint was filed much later. On these grounds, the appeal succeeded, the District Forum's order was set aside, and the complaint was dismissed as not maintainable.

---

---

Issues: (i) Whether the complaint was barred by limitation; (ii) whether an applicant for allotment of shares before allotment could be treated as a consumer.

Issue (i): Whether the complaint was barred by limitation.

Analysis: The cause of action arose when the application for allotment was submitted, but the complaint was filed much later. On that basis, the complaint was beyond limitation.

Conclusion: The complaint was barred by limitation.

Issue (ii): Whether an applicant for allotment of shares before allotment could be treated as a consumer.

Analysis: A person applying for allotment of shares remains only a potential investor until allotment is made and does not acquire the status of a consumer.

Conclusion: The complainant was not a consumer.

Final Conclusion: The appeal succeeded, the order of the District Forum was set aside, and the complaint stood dismissed.

Ratio Decidendi: An applicant for share allotment is not a consumer before allotment is made, and a complaint filed after expiry of the limitation period is not maintainable.

---