- (1.) THE 1st opposite party in C.O.P. No. 129/98 on the file of the District Consumer Disputes Redressal Forum, Tirunelveli, is the appellant. The 1st respondent/complainant filed the complaint against the appellant and the appellant's then Manager, alleging deficiency in service as follows : (a) He invested with the Tirunelveli branch of the 1st opposite party 110 shares of M/s. Glaxo India Limited, Mumbai, for sale. He also got receipts for the same on 3.11.1997 and 2.12.1997. They had sold 50 shares to a Kumbakonam party @ Rs. 421.75 per share on 6.11.1997. But they had not sent the money to the complainant. They sold another 50 shares also. The remaining 10 shares are remaining with them. They have not sold the shares or returned the share certificates to the complainant. The complainant was entitled to the value of the share certificates. Because of the failure on the part of the opposite parties, he was not able to complete the work of repairing his house. He was entitled to Rs. 10,000 for mental agony and Rs. 3,000 towards compensation.
(2.) THE 1st opposite party/appellant resisted the complaint in the following manner : The 2nd opposite party was previously working as the Manager of the Company but he was absconding without reporting for duty. The 1st opposite party had decided to close the business for getting fresh order selling and purchasing shares at Tirunelveli Branch from 24.2.1998 due to administrative reasons. All the clients including the complainant was duly informed. As per the accounts with the 1st opposite party, 50 Glaxo India Limited shares of the complainant were sold on 6.11.1997 and the sale proceeds had been duly credited in his account on 20.11.1997. Subsequently, small amounts were debited in his account towards service charges. Certain other shares were bought and sold by the 2nd opposite party as per the instructions of the complainant. On 21.1.1998, a sum of Rs. 17,961.42 stood to the complainant's credit. From 2.12.1997 till 10.7.1998 when the 1st opposite party sent a letter to the complainant to confirm their accounts, the complainant did not make any claim for the return of the value of the shares. The further 50 shares of Glaxo India Limited, of the complainant were sold in National Stock Exchange on 24.12.1997 and the sale proceeds of Rs. 19,737.50 were duly credited to the complainant's account on 22.1.1998. Thus, the sale proceeds of 100 Glaxo India Limited shares had been duly credited to the complainant's running account. The 1st opposite party had initiated criminal proceedings against opposite party No. 2. So far as the 1st opposite party was concerned, there was no deficiency in service on his part.
(3.) THE 2nd opposite party filed a counter contending that the complainant was put to strict proof that he invested 110 shares of M/s. Glaxo India Limited and the opposite parties issued receipt for the same. Opposite party No. 2 was only the Manager, a paid servant of the Company. He maintained the records which were in the custody of the 1st opposite party. The complaint as framed was not maintainable. Criminal case was pending against opposite party No. 2. Before the District Forum, Exs. A1 to A10 were marked on the side of the complainant and Exs. B1 to B10 were marked on the side of the opposite parties.;