1993 (4) TMI 220 - Commission - Companies Law

Consumer - Definition of - Complainant, a shareholder in TIL, complained about non-receipt of dividend as complainant had not received dividend amounts due to change of address for over three years and said amounts were sent to Registrar of Companies under section 205A of Companies Act after lapse of three years - Opposite parties opposed said complaint on ground that complainant had not applied to TIL in accordance with provisions of section 205B and in Form II of rules made thereunder, and that remedy lay under Companies Act - Whether District Forum having not considered these objections before ordering refund, its order was liable to be set aside and matter remanded back for fresh consideration - Held, yes

Summary

The complaint was filed for payment of dividend. The complainant did not apply for refund as required, so the order was set aside and remanded for further consideration. District Forum to decide the matter afresh.