9911796707
TMI Blog1997 (4) TMI 386X X X X Extracts X X X X X X X X Extracts X X X X ..... o this appeal are that Smt. Triveni Devi and the appellant Satya Prakash Goel were joint holders of certain GMIS 89 Unit Certificates. On 27-4-1992, they applied for converting the said units into UTI Master Gain 1992 Certificates. The said certificates were not received by them even though they repeatedly wrote to the UTI. Ultimately, Triveni Devi mother of Mr. S.P. Goel, died on 28-5-1994. It wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ants on record for future transactions in respect of the Units. The applicant was, therefore, advised to send a fresh application and as soon as the application was received, the same was processed and the Unit Certificates issued. Further plea of the opposite party was that the scheme in question was Capital Growth Oriented Scheme and notwithstanding the delayed delivery of the units, the applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respondent. 4. No doubt, it was a Capital Growth Oriented Scheme but it is not disputed that the UTI Certificates Master Gain 92 were listed in the Stock Exchanges and they were tradeable. It is also not specifically denied that at one point of time, the market price of the said unit rose to Rs. 15 per unit. It follows that if the applicant were in possession of the unit certificates, he coul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion was misplaced. At the same time, the appellant is entitled to all the benefits accruing to a person who had been issued such certificates in time. Keeping the totality of facts and circumstances in view, we are of the opinion that the award of Rs. 500 by the District Forum is altogether inadequate. Keeping in view the period of delay, the amount involved, the expenses and harassment suffered ..... X X X X Extracts X X X X X X X X Extracts X X X X
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