TaxTMI 
TaxTMI 
1999 (8) TMI 912
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....pellant had preferred this appeal. 2. Heard Mr. C. Jagadeesan, the learned counsel for the appellant and Mr. R. Balaraman, the learned counsel for the respondent. 3. For convenience, the facts of the case as narrated before the District Forum are reproduced as follows. 4. The complainant had purchased 6-year National Savings Certificates (VIII Issue), for a sum of Rs. 14,500 from the respondent's post office on 8-8-1995 a part of it and remaining on 11-9-1995. According to the complainant, the opposite party is liable to pay a sum of Rs. 29,217.50 being the maturity value, on all the certificates on the maturity of the certificates under the scheme. While so the respondent by letter dated 15-11-1997 called upon the complainant to surrend....
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....iency in service. 7. Contrary to that the learned counsel for the respondent contends that in terms of the statutory rules, viz., the National Savings Certificates (VIII Issue) Rules, 1989, the appellant-company is not competent to purchase the certificates and the issue by the post-office is void and such certificates will not confer any right. Therefore, the opposite party had rightly called upon the complainant to surrender the NSC and collect the money actually remitted for the purchase. 8. Mr. R. Balaraman, the learned counsel for the respondent contends that no interference is called for with respect to the order of the District Forum. 9. The points that arise for consideration in this appeal are : (1)Whether the complainant is a ....
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....ermissible for the post-office to issue a certificate in favour of the complainant, a public company. Obviously, on the date of the application, when it was entertained and on the date of the issue of the certificates, the respondent was not either aware of the amendment or ignorant of it or not been intimated of the amendment. However, the amendment has come into force with effect from 1-4-1995. The certificates have been issued after the amendment. Hence, the issuance of the very certificate in favour of the complainant is void ab initio. Therefore, it follows that the certificates have not been issued validly and the complainant is not holding the certificates validly. The first point is answered accordingly. 12. It is needless to state....