Top-rated Corporate Bond Yields

The yields have reduced by 10bps-15bps in a week. You can expect to get yield of around...

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G-Sec Yield Makes a New Low

The 10-year benchmark government security (G-Sec) yield, which sets the tone of the...

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Thane Consumer Forum Sentences Developer to One Year Jail

The Thane District Consumer Dispute Redressal Forum recently sentenced a Vasai-based developer, who failed to abide by the Forum’s orders in 2008, to a year’s imprisonment and a fine of Rs10,000. It also stated that if the developer fails to pay the fine, the sentence will be extended by another six months.

 

Patricia Vinekar had booked a flat in a building being constructed by developer, Bhimsen Sohanlal Bagga. As the builder failed to hand over possession of the flat, Patricia approached the Forum in 2008. The Forum ordered the builder to hand over possession of the flat and to pay the complainant Rs20,000 towards mental agony and Rs5,000 as litigation costs.

 

The developer appealed against the Forum’s order before the state consumer commission, the national consumer commission and even before the Supreme Court of India, but his plea was turned down at every step. Finally, Patricia approached the Thane Forum pleading for harsher punishment for the developer for failing to abide with the orders.

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