SUPREME COURT OF INDIA

Pokhran Investments Private Limited

Vs.

Indusind Bank Limited

C.A.No.6931 of 2002

(S. N. Variava and H. K. Sema JJ.)

16.01.2004

ORDER

1. Appeal admitted.

2. Heard parties.

3. By the impugned order, National Consumer Disputes Redressal Commission has dismissed the complaint on the ground that the case falls within the jurisdiction of SEBI. We are unable to sustain this reasoning. The complaint is for loss suffered for alleged deficiency in service and damages for the mental agony. These are matters, which can be dealt with by the National Commission. The National Commission has jurisdiction to decide these aspects.

4. We, therefore, set aside the impugned order and remit the matter back to the National Commission for disposal on merit. We clarify that we have not at all dealt with the merits of the matter. Any observations made herein will not be taken into consideration.

The appeal stands disposed of accordingly.