MLM / Chain Money
CBI moves court against bail to Saradha accused
The CBI on Tuesday moved the Calcutta High Court seeking cancellation of bail granted to Saradha accused West Bengal Transport Minister Madan Mitra.
 
Mitra, indicted by the agency of cheating, conspiracy and criminal breach of trust in the multi-crore-rupee scam, was granted bail by a lower court on Saturday nearly 11 months after his arrest.
 
A division bench of Justice Harish Tandon and Justice Ishan Chandra Das granted leave to the Central Bureau of Investigation (CBI) to move the petition in the court and serve a copy of it to Mitra's counsel.
 
The move came on a day when Mitra, who was on Sunday discharged from the government-run SSKM Hospital where he spent most of his incarceration period, was admitted to a city hospital.
 
Mitra's moving to a hospital yet again drew ridicule from opposition parties which have been strongly criticising the SSKM hospital authorities for finding him fit within 24 hours of getting bail.
 
According to jail authorities, Mitra spent less than 50 days in the prison since he was sent to judicial custody on December 19.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Online shopping garners maximum complaints in China
Majority complaints made by Chinese consumers in 2014 were about online shopping, a media report said on Tuesday.
 
The number of complaints and disputes related to internet shopping rose sharply and the network has become a breeding ground for counterfeits, a report by a law enforcement team under the Standing Committee of the National People's Congress (NPC) said on Monday.
 
In 2014, Chinese industrial and commercial authorities dealt with 78,000 complaints concerning online shopping, up 356.6 percent year-on-year, the China Daily reported.
 
Of the total of 20,135 cases taken on by consumer associations, 92.3 percent concerned online purchases, the report said. 
 
"Ignoring consumers' rights and selling counterfeits are very prominent in the online shopping industry," Yan Junqi, vice-chairwoman of the NPC Standing Committee, said.
 
She revealed that just 58.7 percent of products sold online were found to be authentic during a random inspection in 2014 by the State Administration of Industry and Commerce.
 
With the rise in complaints, the number of disputes caused by online purchases also went up, she said.
 
Beijing Chaoyang District People's Court has handled 107 such disputes since the revised Chinese Consumer Protection Law took effect on March 15, 2014, she said. 
 
Yan suggested that the Supreme People's Court should clarify the revised law by the end of this year and appealed to consumer associations to play their role.

 

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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JP Morgan to pay $100 mn to settle case
JP Morgan Chase & Co., the largest bank in the US, will pay $100 million to settle a lawsuit over using illegal methods to collect debts from more than 125,000 credit card holders in southern California and elsewhere.
 
The largest US bank by assets will pay an estimated $10 million to consumers in California as part of a previously announced $50 million national agreement, and will pay another $50 million in penalties to the state to settle the 2013 lawsuit, which was filed in a court in Los Angeles, Xinhua reported.
 
"We are pleased to resolve these legacy issues with the California Attorney General and we are working to complete our remediation of affected card customers," Suzanne Alexander, a bank spokeswoman, said.
 
The settlement specifically addresses debt collection wrongdoing that includes collecting incorrect amounts, selling bad credit card debt, and running a debt collection mill that involved illegally "robo-signing" thousands of court documents and improperly obtaining default judgments against military service members, state Attorney General Kamala Harris said.
 
The settlement includes reimbursing military members in cases where the company improperly obtained default judgments.
 
The judgment, which is subject to court approval, includes terms that fundamentally change Chase's credit card debt-collection practices to prevent similar misconduct in the future, Harris said.
 
Between 2009 and 2013, Chase filed more than 125,000 credit card collection lawsuits against California consumers relying on illegally robo-signed sworn documents and provided an additional 30,000 robo-signed sworn statements in support of lawsuits filed against California consumers by third-party debt-collectors, according to court documents.
 
Chase also made systematic calculation errors regarding the amounts owed, and sold "zombie debts" to third-party debt-collectors that included accounts that were inaccurate, settled, discharged in bankruptcy, not owed, or otherwise not collectable, Harris said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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