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S Singh   02 September 2016

How to cover loss?

I had purchased 100 shares of Jet airways at Rs. 452.50 per share from a person vide off-market demat account shares transfer.
I had paid the shares price in cash.
The person lodged an fir u/s 420 claiming he did not receive the money.
The police freezed the shares in my demat account by writing letter to my depository ("stating to keep freeze till order of any Court comes") .
The Court convicted me and ordered me to return the shares to the complainant after the period of appeal is over.
I filed timely appeal at sessions Court which is till date pending.
The police again wrote a letter stating the reference of their previous letter and informed the depository of the latest Court order which was upon me.
The depository misread the police letter which was in Marathi and thought the order was for them and without taking my signature or mandate transferred the shares to the complainant.
I have filed a suit (in person) against the depository claiming compensation for breach of contract.
Will I receive the compensation? or Will the outcome of this case be dependent upon my wining of the criminal case appeal?



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