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M.N.VENKATACHALIAH, S.MOHAN, A.S.ANAND
MORGAN STANELY MUTUAL FUND – Appellant
Versus
KARTICK DAS – Respondent
The court in this case held that the Consumer Forum does not have the jurisdiction to adjudicate matters beyond the scope of the specific reliefs provided under the statute, which primarily include final reliefs such as compensation, removal of defects, or replacement of goods. The court emphasized that Section 14 of the relevant Act does not empower the Consumer Forum to grant interim or ad-interim reliefs, including injunctions or other provisional measures. Therefore, the court concluded that the Consumer Forum cannot entertain or decide issues that require adjudication beyond the statutory compensation or the specific remedies explicitly provided for under the law.
Mr. S. Mohan, J.—Leave granted.
2. The appellant is a domestic mutual fund registered with Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) under Registration No. MF/905/93/1 dated 5.11.93. the appellant is managed by a Board of Trustees. Pursuant to the SEBI (Mutual Fund) Regulations, the investment management company of the appellant, Morgan Stanley Asset Management India Private Limited was registered with SEBI on 5.11.93. Under such registration Morgan Stanley Asset Management India Private Limited is constituted as the asset management company of the appellant. Morgan Stanley Asset Management India Private Limited is a subsidiary of Morgan Stanley Group Inc. which holds 75% of equity, the balance being held by Indian shareholders such as Housing Development Finance Corporation (SDFC), Stock Holding Corporation of India etc. Morgan Stanley Asset Management India Private Limited was granted certificate of incorporation on 18th October, 1993 by the Registrar of Companies, Bombay. Its Memorandum and Article of Association have also been approved by the SEBI as per the provisions of the said Regulations.
3. The draft scheme of the appellant was appro
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