TaxTMI 
TaxTMI 
1993 (3) TMI 264
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....peals are heard and disposed of together since they involve common question. The facts of Appeal No. 9 of 1993 are as under : 2. The complainant is residing with his parents and has approached the opposite party who was doing the business of purchase and sale of shares for the purpose of purchasing the shares for his father. The complainant's father Mr. Dineshchandra purchased the shares in the name of the complainant. It appears that same shares were sold and the share certificates along with the signed transfer deeds were given to the opposite party for delivery in the market. The opposite party had promised that the price of the shares will be paid within 45 days. According to the figures given by the complainant an amount of Rs. 45,275....
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....4 for the loss occurred to him on account of non-delivery of share price, non-delivery of right shares and bonus shares. 3. The District Forum after perusing the records came to the conclusion that the complainant was duped by the opponent and the opponent did not pay the sale price of the said shares sold in the market. The cheques were given which were dishonoured and, therefore, the complainant was entitled to the relief. The opponent has also failed to deliver the shares of Special Steel and the bonus shares and, therefore, the complainant was entitled to Rs. 95,974 as prayed for. 4. Being aggrieved by this order the opponent has filed this appeal. Mr. Sanjanwala, the learned advocate appearing for the appellant in all the matters rai....
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....f the matter since he has been amply harassed by the opponent by taking dates and not filing written statement. The complainant appears to have filed the affidavit on 3-4-1992 alongwith an application and the District Forum has disposed of the complaint by judgment dated 1-5-1992. 7. To our opinion the proceedings clearly show that the present appellant has not cared to file any written statement, has obtained several adjourn-ments and delayed the proceedings and, therefore, the District Forum had no alternative except to proceed without the written statement. There is no application made by the opponent for cross-examination of the complainant. It appears that the District Forum heard the arguments on 3-4-1992 and kept the complaint f or ....
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....nent had given cheques were also dishonoured. These facts clearly show that the complainant has been duped and there is no question of any fraud committed by the complainant. The opponent has failed to render the services or give the account of the shares sold by the opponent who has not returned, if released, his cheques were dishonoured, and is, therefore, liable to the damages to the complainant. Mr. Sanjanwala has disputed the particulars regarding the shares. We cannot entertain this plea in absence of written statement or evidence. 9. Mr. Sanjanwala stated that the appellant is not a registered share broker or a sub-broker of a registered share broker and is not liable to trade in shares as alleged against him and hence following of ....