1993 (10) TMI 235

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....DAV, MEMBERS   R.K. Garg, Advocate for the Complainant. Dev Anand Misra and P.N. Misra for the Respondent. ORDER Krishan, Member - Originally the complainant had filed a complaint before the State Consumer Disputes Redressal Commission, Union Territory of Chandigarh alleging unfair trade practice, deficiency in service and charging more than the actual price in the purchase of shares by ....

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....the complainant, after a visit to Bombay, he discovered that the opposite party respondent has made a fraudulent deal and an unfair trade practice in that he had collected the charge on account of 'Badla Transaction' without furnishing the correct statement of account of the sale and purchase of the shares. He claimed a compensation of Rs. 8,21,050, refund of Rs. 70,000 paid as advance and interes....

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....f the main complaint petition will exceed Rs. 10 lakhs with the result that the State Commission is not the appropriate forum before which the complaint can 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 Hence all the complaints were withdrawn from the State Commission and were treated as original complaints on the file of this Commission. 4.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 p....

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..... The complainant had failed to provide the margins (30 per cent of the value of the shares to be purchased) viz., thus, the appellant had failed to provide margins resulting in a debit balance of Rs. 19.82 lakhs in one account and a credit balance of Rs. 10.26 lakhs in nine such accounts. More importantly, the opposite party respondent has also pointed out that the complainant had issued instruct....