V P SHARMA Vs. SIKANDER LAL AND CO

JUDGEMENT

(1.) COMPLAINANT is a retired Government officer; he was about 70 years in the year 1993 when the instant complaint was filed. The O.Ps. are the share brokers in Delhi Stock Exchange. However, at the time of filing of this complaint O.P. No. 1 which was a partnership firm was dissolved and its partners started their business independently. The complainant had been availing services of O.P. No. 1 for purchase and sale of shares. He handed over as many as 700 shares of different companies on different dates as per following details:

(2.) THESE shares were handed ove for sale along with share transfer deed but the O.Ps. are alleged to have turned dishonest as neither did they return the aforesaid shares nor did they made the payment against the said shares.

(3.) THE complainant has claimed the amount of shares along with interest besides other relief that may be available under the law. The factum of having received the aforesaid shares by O.P. No. 1 on the dates shown above is not in dispute. However the Counsel for the O.P. has raised following defences in repelling the claim of the complainant :