1999 (8) TMI 796 - HC - Companies Law

Summary

The High Court of Madras allowed the writ petitions seeking a writ of prohibition against the District Consumer Grievance Redressal Forum, Madurai from entertaining consumer protection cases related to allotment of shares, as per the Supreme Court decision in Morgan Stanley Mutual Fund v. Kartick Das. The Court held that a prospective investor in shares does not fall under the definition of a consumer, as there must be a completed transaction of buying goods for consideration. The writ petitions were allowed with no costs.