IMPORTANT POINT
Disputes between parties relating to commercial purposes are excluded under C. P. Act.

V.B. Gupta, Presiding Member—Petitioner/Complainant, has filed the present revision petition under Section 21(b) of the Consumer Protection Act,1986 (for short, ‘Act’), against order dated 17.5.2010 passed by State Consumer Disputes Redressal Commission, Haryana, Panchkula (for short, ‘State Commission’) in F.A. No.509 of 2010.

2. Brief facts are that Petitioner/Complainant has been having business of shares with the Respondent No.1/Opposite Party No.1 through their agent, Respondent No.2/Opposite Party No.2. Petitioner was allotted account No.KK-85 and respondent no.1 was to provide margin money of 20% and 80% at the rate of 15% p.a. Petitioner had issued a cheque no.161549 dated 16.5.2006 in favour of respondent no.1 on account of deficiency in margin money to be maintained at 20%. The said cheque was not credited in the account of the petitioner, rather it was illegally credited in the account no.SJ-65 of Satpal Juneja (earlier agent of respondent no.1). The petitioner obtained statement of his account and share holdings from respondent no.1 and came to know that his shares worth Rs. 9,34,602.85 Ps. of Siemens and Ultra Tech companies were illegally sold due to non-credit of the amount of cheque dated 16.5.2006, which caused him a loss of Rs. 2,92,240.50 Ps. Similarly, 750 shares of Ultra Tech were also sold unauthorisedly at the lower rate causing a loss of Rs. 6,109.11Ps to him. In this way, petitioner suffered a total loss of Rs. 2,98,349.26 Ps.

3. Petitioner filed (Complaint Case No.332 of 2006) before the District Forum for the above said loss, which was decided in his favour on 3.8.2007. Respondent No.1 and its agent Satpal Juneja, were jointly and severally directed to pay Rs.2,98,349/- to the petitioner with Rs.one lakh as compensation and Rs.3,300/- as cost of litigation. When respondent no.1 and its agent Satpal Juneja, failed to comply with the said order, the petitioner filed a execution petition during pendency of which, respondent no.1 paid a sum of Rs.4,34,570/- to the petitioner on 11.9.2008. So, the said petition was withdrawn as fully satisfied.

4. During pendency of the above said complaint, respondent no.1 had filed written reply dated 28.11.2006 alongwith copy of statement of account of the petitioner showing the sale of another 6000 shares of Andhra Bank Ltd. of the petitioner on 25.5.2006 at the rate of Rs.68.3646 Ps. per share without his consent and permission, whereas the same were purchased at the rate of Rs.96.50 ps. per share. In this way, the petitioner was caused a loss of Rs.2,15,373/- which amounts to deficiency of service on the part of respondent no.1.

5. Petitioner, thereafter obtained copy of statement of account from May,2005 to 21.3.2008 from the office of respondent no.2. In the said documents, 200 shares of L&T company are shown with closing rate of Rs.1083.95 Ps, whereas it should be 400 shares (200+200) bonus shares) with the said rate or the rate of 200 shares should have been Rs.2,167.90 Ps. In the same way, rate of 10 shares of Revalgaon Sugar has been shown Rs.2,400/-, whereas it should have been Rs.5,024.45 Ps. per share. The rate of 2,500 shares of Venus Sugar has also not been shown in these documents. On 6.10.2008, petitioner was supplied a copy of statement of account w.e.f. 1.4.2008 to 7.10.2008 showing opening balance of credit of Rs.2,28,636.61 Ps. as on 1.4.2008 and the opening balance of debit of Rs.17,32,668.77 Ps. Besides, rate of interest being charged from day to day has been shown as 16% as against the agreed rate of 15% p.a. Respondent No.2 also demanded a sum of Rupees Five lakh from the petitioner on 6.10.2008 to complete the alleged deficiency in the margin of 20% to be maintained by the petitioner without any shortage of margin money in his account. Alleging above said acts of respondents as deficiency in service on their part, petitioner sought a direction to respondents to pay Rs.2,15,373/- for the illegal sale of 6000 shares of Andhra Bank Ltd with inte