C. VISWANATH
Baidyanath Mondal – Appellant
Versus
Kanahaya Lal Rathi – Respondent
ORDER
C. Viswanath, Presiding Member.—The present Revision Petition is filed by the Petitioner under Section 21(b) of the Consumer Protection Act, 1986 against Order passed by the State Consumer Disputes Redressal Commission, West Bengal, Kolkata (hereinafter referred to as the “State Commission”) in Appeal No.463/2014 dated 19.07.2016 whereby the Appeal filed by the Complainant was dismissed.
2. The Revision Petition has been filed with a delay of 116 days. For the reasons stated in the application and in the interest of justice, the delay is condoned.
3. Case of the Complainant/Petitioner is that he purchased 2000 equity shares of Aravinda Remedies and 200 equity shares of Reliance Power Ltd. by making payment of Rs.13,700 and Rs.49,400/- respectively. The Opposite Party delivered 1000 shares of Aravinda Remedies instead of 2000 shares amounting to Rs.6,850/- leaving a refundable amount of Rs.6,850/-. Further, the Opposite Party delivered 200 shares of Reliance Power Ltd. amounting to Rs.47,440/- leaving a refundable amount of Rs.1,960/-. When the Complainant enquired about his Demat Account, he came to know that 200 shares of Reliance Power Ltd. were transferred to the account o
Stocks and Shares - It is not the case of the Complainant that he had invested the money in share market exclusively for earning his livelihood, thus the Complainant is not a Consumer.
Investment for profit does not qualify as consumer protection under the Act.
Plot Buyers Agreement – Merely labelling brochure as an “investment proposal” or giving buyer option to resell plot does not by itself make the transaction commercial one.
The Court affirmed that disputes involving factual complexities and consumer definitions must be addressed through statutory remedies rather than writ jurisdiction.
National Commission - Powers of the National Commission are very limited.
The court affirmed that ownership transfer must occur before financial obligations arise, and established consumer rights based on livelihood motivations in property transactions.
No revision petition against the order passed in appeal filed under section 27-A of Act is maintainable before national commission.
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.