https://www.taxtmi.com/caselaws?id=102460 Private placement or purchase of shares, where the complainants alleged that the shares were not allotted or not delivered, was treated as a sale transaction rather than hiring of services. On that basis, non-delivery of shares could not amount to deficiency in service under the Consumer Protection Act, 1986. Relying on prior precedent, the Commission noted that unsuccessful applicants for allotment of shares in a public issue are not consumers, and that a sale of shares without defect does not create a consumer dispute. The complaints and appeals were therefore held not maintainable within consumer jurisdiction. en-us Mon, 04 Apr 1994 00:00:00 +0530 Mon, 18 Feb 2013 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102460 Private placement or purchase of shares, where the complainants alleged that the shares were not allotted or not delivered, was treated as a sale transaction rather than hiring of services. On that basis, non-delivery of shares could not amount to deficiency in service under the Consumer Protection Act, 1986. Relying on prior precedent, the Commission noted that unsuccessful applicants for allotment of shares in a public issue are not consumers, and that a sale of shares without defect does not create a consumer dispute. The complaints and appeals were therefore held not maintainable within consumer jurisdiction. Case-Laws Companies Law Mon, 04 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102460