1993 (10) TMI 234

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hir Mehra and Giridhir Gobind for the Respondent. ORDER Justice R.N. Mittal, President - This appeal has been filed by the complainant against the order of the District Forum No. 1 dated 2-11-1992 by which the complaint has been dismissed. 2. Briefly the facts of the case are that the complainant on 5-1-1987 purchased 50 shares of Indrol Lubricants & Specialities Ltd. (now named as Castrol Ind....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... regard was also sent to respondent No. 3 and not to the complainant. In 1990 respondent No. 1 issued 50 duplicate share certificates to the complainant and asked him to collect 70 shares from respondent No. 3 to whom those had been sent. 5. The complainant requested respondent No. 3 to transfer those shares in his favour. However, she replied that she had not received 50 shares issued by the com....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....above, to him. He has further claimed damages and costs of litigation. 7. The complaint was contested on behalf of respondent Nos. 1 and 2. Respondent No. 3 was proceeded against ex parte. The learned District Forum dismissed the complaint on preliminary objection that the com-plainant was not a consumer as defined in the Consumer Protection Act, 1986 as he had not paid any consideration for hiri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....duly considered the arguments. The question is not free from difficulty. The capital of the company is subscribed by the shareholders and from that capital the company runs business and earns profit. It out of the profits so earned, pays a part of the amount to the shareholders as dividends and utilises the balance for running the business. As a proof of payment of share money, the company issues ....