1997 (4) TMI 386

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....; Dharam Dev for the Respondent. ORDER Chowdhri, President - Brief facts giving rise to this appeal are that Smt. Triveni Devi and the appellant Satya Prakash Goel were joint holders of certain GMIS 89 Unit Certificates. On 27-4-1992, they applied for converting the said units into UTI Master Gain 1992 Certificates. The said certificates were not received by them even though they repeated....

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....size of the Issue. The application was necessary in order to have the signatures of the applicants on record for future transactions in respect of the Units. The applicant was, therefore, advised to send a fresh application and as soon as the application was received, the same was processed and the Unit Certificates issued. Further plea of the opposite party was that the scheme in question was Cap....

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.... 3. We have heard the appellant in person and Mr. Dharam Dev, authorised representative of the respondent. 4. No doubt, it was a Capital Growth Oriented Scheme but it is not disputed that the UTI Certificates Master Gain 92 were listed in the Stock Exchanges and they were tradeable. It is also not specifically denied that at one point of time, the market price of the said unit rose to Rs. 15 pe....

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....g when the GMIS certificates had been received and the amount thereof credited but the application was misplaced. At the same time, the appellant is entitled to all the benefits accruing to a person who had been issued such certificates in time. Keeping the totality of facts and circumstances in view, we are of the opinion that the award of Rs. 500 by the District Forum is altogether inadequate. K....