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IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
SUNITA AGARWAL, D.N.RAY
Niketu Jashwantlal Shah – Appellant
Versus
Religare Securities Ltd – Respondent
ORDER :
D.N.RAY, J.
1. Heard Ms.K.J.Brahmbhatt, learned advocate with Ms. Varsha Brahmbhatt, learned advocate for the appellants and Mr. Chaitanya S. Joshi, learned advocate for the respondent.
2. A batch of appeals involving identical facts and prayers has been filed. For the sake of convenience, First Appeal No. 1153 of 2013 is treated as the lead matter and the facts thereof are referred to for the purpose of discussion. The decision rendered in this appeal shall govern the outcome of the connected First Appeals as well.
3. Brief facts of the case are as under:-
3.1 In August 2006, the appellant became a client of M/s Religare Securities Ltd. (hereinafter “the respondent”) after being approached by Mr. Anup P. Shah, who introduced himself as the Relationship Manager representing the respondent. In compliance with instructions from the respondent, the appellant transferred his securities from his personal demat account to the Respondent’s beneficiary account from time to time. Since April 2007, the appellant did not make any further monetary transfers to the Respondent and contends that payouts were received during this period.
3.2 It is the case of the appellant that his trading activ
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