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Judgment
RAM Kawar Takia approached the respondent for transfer of 800 shares in his favour on 1.11.92 which he allegedly purchased in open market. This should have been completed and acted upon by the respondent within a period of two months but the respondent Company took three months and eight days. This allegedly resulted in a loss of Rs. 21,600/-. The complaint was dismissed by the District Forum, Union Territory, Chandigarh on 22.9.95. Aggrieved against it, the present appeal has been attempted.
ON behalf of the appellant it has been argued that at the time the application for transfer was sent the price of one share was Rs. 77.50 whereas on or about 15/16.4.93 at the time of actual transfer it was reduced to Rs. 33/-. The complainant could not produce any evidence before the Forum establishing reduction in the price. The complainant-appellant has placed some cyclostyled extract from a newspaper and we are not in a position to rely upon these cyclostyled copies alleged to be part of any newspaper as an authentic piece of evidence. Besides this on behalf of the respondent it has been pointed out that there was no evidence that the appellant wanted to sell or dispose of the shares soon after the expiry of the period of two months. The shares were earlier in favour of Sh. Rajesh Bindra and not in favour of the present complainant. Considering all these aspects, we do no find it a fit case for interference and the appeal is dismissed leaving the parties to bear their own costs. Announced. The order be communicated to the parties free of charges. Appeal dismissed.