V.B.GUPTA
STATE BANK OF INDIA – Appellant
Versus
LATE ASHOK MANWANI THR. LRS – Respondent
ORDER
V.B. Gupta, (P.M) - In this revision petition filed by the Petitioner/Opposite Party, there is challenge to order dated 3.1.2011 passed by Chhattisgarh State Consumer Disputes Redressal Commission, Pandri, Raipur (for short, State Commission) in First Appeals No.464 and 476 of 2010.
2. Brief facts are that deceased Ashok Manwani-Complainant deposited Rs. 1,00,000/- in his sole name under Reinvestment Plan of Petitioner under "Special Term Deposit Receipt" (hereinafter referred to as "STDR") for a period of 36 months expiring on 01.01.03. On maturity, sum of Rs. 1,40,514/- was payable. In March 2000, in the capacity of proprietor of M/s. Panacea Investments, he applied for dealership of Inter Connected Stock Exchange of India Ltd. (hereinafter "ICSE"), to acquire trading rights in the ICSE. As per terms and conditions of ICSE membership, he was required to deposit Rs. 5,00,000/- as Admission Fee, Rs. 25,000/- as Annual Subscription, Rs. 5,000/- for SEBI Registration Fee, Rs. 8,925/- as Insurance Premium, Rs. 5,000/- towards initial contribution to Settlement Guarantee Fund and Rs. 2,00,000/- as Security Deposit (Base Minimum Capital i.e. BMC) Out of BMC of Rs. 2,00,000/-, Rs. 1
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