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V.B.GUPTA, SURESH CHANDRA
State Consumer Disputes Redressal Commission, Haryana , Panchkula – Appellant
Versus
Religare Securities Ltd. , Through its Managing Director – Respondent


Advocates:
Counsel for the Parties:
For the Petitioner:Mr. Nikhil Jain, Advocate.
For the Respondents: Nemo.

ORDER

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

































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