1997 (10) TMI 322

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....; B.K. Sood for the Appellant. C.B. Barowalia for the Respondent. ORDER Nag, President - The challenge in this appeal is to the order of the learned District Forum, Kangar at Dharamshala dated 28-12-1996, whereby the appellant (the State Bank of India) has been directed to pay a sum of Rs. 2,000 as compensation and costs of Rs. 1,000 to the complainant. 2. The brief relevant facts nece....

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....District Forum on the basis of the material placed on record by the parties, has come to the conclusion that the application submitted by the complainant together with the demand draft amounting to Rs. 4,000 was received in the Mail Section of State Bank of India, Bombay on 21-2-1994 i.e. well before the date of opening of the issue on 23-2-1994. It has further been found by the District Forum tha....

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....n Stanley Mutual Fund v. Kartick Das [1994] 2 CTJ 385, whereby it has been held that the prospective investor cannot be a consumer within the meaning of Consumer Protection Act, 1986 and, therefore, the Consumer Fora has no jurisdiction. 6. We regret we are unable to accept this contention, as facts of this case are distinguishable. In this case, the question whether merely a prospec- tive inve....

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.... Punjab has clearly observed that the services of the Bank were hired by the Company for collection of application alongwith the requisite money for prospective allotment of snares and the complainant was beneficiary of such an arrangement and as such he clearly falls within the definition of 'consumer' under section 2(1)( d)(ii) of the Act and the Consumer Fora has jurisdiction to entertain such ....