1993 (10) TMI 235

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eficiency in service and charging more than the actual price in the purchase of shares by the opposite Party, a share and stock broker, on behalf of the complainant. 2. According to the complainant, the opposite party had undertaken to purchase shares on his behalf and on behalf of his nine family members (who are complainants in Petition Nos. 19 to 27) at the commission specified for shares of certain companies and undertook to submit accounts showing the purchases made, actual purchase price and the sale price of shares and his commission therefor. The complainant remitted a sum of Rs. 7 lakhs to the opposite party through two drafts for purchasing the shares in his name and in the names of his nine family members. The opposite party d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... be instituted'. Hence all the complaints were withdrawn from the State Commission and were treated as original complaints on the file of this Commission. 4. According to the version of the complainant himself, the main contro- versy in this petition is that the opposite party respondent was acting on behalf of the petitioner for the purchase and sale of shares and were therefore, bound to render accounts of transactions and documents in support to the petitioners. For this purpose the complainant requested the examination of the Chopri book required to be maintained under rules of the Stock Exchange and other connected account books. Accord- ing to the complainant the Chopri book contains deals of every transac- tion including the name ....