Companies & Sectors
No transaction fee should be levied on air passengers: SC

The apex court also directed DGCA to examine the tariff structure of the airlines in view of their wide range of base prices for air tickets

 

New Delhi: Passengers who book air tickets through agents will not have to fork out extra money with the Supreme Court on Wednesday restraining airlines from levying transaction fee in any form on them, reports PTI.

 

“The transaction fee shall not be collected from any passenger in any form or under any other name,” a bench of justices DK Jain and Madan B Lokur said.

 

The apex court also directed the Directorate General of Civil Aviation (DGCA) to examine the tariff structure of the airlines in view of their wide range of base prices for air tickets.

 

“There are several bands for fixing the base price which in certain cases range from Rs1,120 to Rs36,000...We are of prima facie view that regarding wide range of basic fair, it would be necessary for the DGCA to examine the tariff structure of the airlines,” the bench said.

 

The bench rapped the DGCA for not enforcing its own direction dated 17 December 2012 when it had restrained the airlines from charging transaction fee from passengers.

 

“We regret to note that despite provision is there not to charge transaction fee, the DGCA failed to enforce its own direction,” the bench said, adding “It needs our immediate intervention for non-compliance of direction issued by the DGCA. The airlines cannot charge transaction fee from customers.”

 

“We are of the view that circular of DGCA dates 17 December 2012 is still in vogue and transaction fee cannot be charged by the airlines,” the bench said.

 

Transaction fee was introduced by the airlines after they adopted a zero commission policy for their agents. Under transaction fee, agents charge customers any amount of their choice and there is no uniformity in it.

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HUL Q3 net profit up 16% to Rs871 crore

During the December quarter, Hindustan Unilever’s net sales rose to Rs6,433.69 crore from Rs5,844.31 crore a year ago period

 

New Delhi: Fast-moving consumer goods (FMCG) company Hindustan Unilever (HUL) on Tuesday reported a 15.6% jump in net profit to Rs871.36 crore for the third quarter ended December 2012, reports PTI.

 

The company had posted a net profit of Rs753.81 crore during the same period of the previous fiscal.

 

Net sales of the company rose to Rs6,433.69 crore for the third quarter ended December 2012, as against Rs5,844.31 crore during the same period of 2011-12 fiscal, HUL said in a statement.

 

In a separate statement, the company said it has inked an agreement with Unilever Plc for the provisions of technology, trademark licences and other services to HUL.

 

Shares of HUL today closed at Rs481.55 on the BSE, down 2.88% from their previous close.

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ITC to invest Rs1,000 crore in food, consumer goods sector

ITC got possession of 39 acres at Panchla in Howrah district where it would build an integrated food and consumer goods facility and would invest Rs1,000 crore in the foods and consumer goods segment in the state over two-three years

 

Kolkata: Cigarettes-to-hotels conglomerate ITC said it will invest Rs1,000 crore in food and consumer goods sector in the next two to three years, reports PTI.

 

The company got the possession of 39 acres last week at Panchla in Howrah district where it would build an integrated food and consumer goods facility, an ITC spokesperson said, adding that it will invest Rs1,000 crore in the foods and consumer goods segment in the state over two-three years.

 

The land was given by the West Bengal Industrial Infrastructure Development Corporation.

 

ITC had already got a parcel of 18 acres at Uluberia in Howrah district where a similar integrated facility would commence. the spokesperson said, adding that both the facilities would be carried out simultaneously and were likely to be operational in the next two years.

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