Court : Delhi State Consumer Disputes Redressal Commission SCDRC New Delhi
Decided on : Jan-19-1998
..... , the question raised was whether the alleged non- issue of shares and debentures for which the petitioner applied fell within the purview of the act. for the reasons which need not be repeated, this decision was also not relevant for deciding the question in hand. 7. on the contrary, the companies act makes it penal if the shares lodged for transfer are not transferred ..... singh. mandeep singh, complainant, lodged share certificate no. 102052 for 50 equity shares with the respondent on 28.11.1991 for transfer in his favour. under section 113 of the companies act, the shares were required to be transferred within a period of 60 days. however, the shares were received duly transferred only on 31.8.1992. further grievance of the complainant ..... on 30th december, 1994 and me said dividend was payable within 42 days as required under section 207 of the companies act. the company, however, failed to send the dividend which had not been received till the filing of the complaint. it was in these circumstances that the complainant claimed compensation amounting to rs. ..... . unless the shares are transferred, they would cease to be tradeable. this is a service which is required to be performed by the company; issuing the shares and deficiency therein squarely falls within the purview of the consumer protection act. there are numerous decisions of various state commissions. we would refer only to a couple of them. in n. madu ram financial .....Tag this Judgment!