https://www.taxtmi.com/caselaws?id=103946 The Consumer Commission upheld the District Forum's decision that the State Bank of India was liable to pay compensation for failing to remit the application and demand draft for equity shares. The Commission found that the bank's services were engaged by IPCA Laboratories, making the complainant a 'consumer' under the Consumer Protection Act. The compensation awarded by the District Forum was reduced from Rs. 2,000 to Rs. 1,000 as the shares were not allotted. The State Bank of India's appeal partly succeeded, with the modified compensation amount being deemed just and equitable. en-us Fri, 17 Oct 1997 00:00:00 +0530 Mon, 18 Feb 2013 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103946 The Consumer Commission upheld the District Forum's decision that the State Bank of India was liable to pay compensation for failing to remit the application and demand draft for equity shares. The Commission found that the bank's services were engaged by IPCA Laboratories, making the complainant a 'consumer' under the Consumer Protection Act. The compensation awarded by the District Forum was reduced from Rs. 2,000 to Rs. 1,000 as the shares were not allotted. The State Bank of India's appeal partly succeeded, with the modified compensation amount being deemed just and equitable. Case-Laws Companies Law Fri, 17 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103946