CONSUMER INTEREST


IANS 13 August 2019
The Competition Commission of India (CCI) has found Jaiprakash Associates Ltd (JAL) to be in contravention of the provisions of Section 4 of the Competition Act, 2002, for abuse of dominant position in the market.   The abuse has been identified with independent residential units such...

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IANS 13 August 2019
OYO Hotels & Homes on Monday announced a complimentary insurance cover of upto Rs 10,00,000 for its guests at booking price, across OYO properties in India.   The insurance cover has been launched in partnership with ACKO General Insurance, OYO said in a statement.   "The...

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IANS 09 August 2019
The Supreme Court on Friday upheld the status of homebuyers as financial creditors as per the amendment in the Insolvency and Bankruptcy Code (IBC).   Builders had moved the top court challenging the financial creditors status given to homebuyers. With this judgement, the court has...

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Moneylife Digital Team 08 August 2019
With every rate cut, the media tell you that your home loans and other loans have become cheaper. This, alert borrowers is, a lie. Banks do not reduce the rates in tune with policy rates. And this lie will continue, thanks to Reserve Bank of India’s (RBI's) policy of junking the...

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IANS 06 August 2019
Parliament on Tuesday passed the Consumer Protection Bill 2019 that seeks to address the issues of false and misleading advertisements and set up a national regulator to address consumer complaints, paving the way for strengthening of consumer rights.   Replying to the debate, food...

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On 14 June 2019, the National Consumer Disputes Resolution Commission (NCDRC) gave a stunning order which issued a stern warning to ICICI Prudential Life Insurance (ICICI Pru) and slapped a cost of Rs5 lakh on it for rejecting a legitimate claim based on a ‘suspicious medical certificate’...

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Moneylife Digital Team 02 August 2019
Updated on 8 August 2019 at 4.37pm to include response from ICICI Bank.   In June, the Reserve Bank of India (RBI) directed banks not to levy any charges for transactions processed in the real time gross settlement system (RTGS) and national electronic funds transfer (NEFT) systems in...

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Shirish Shanbhag 01 August 2019
Maharashtra has recently announced an amnesty scheme with respect to the penalty that can be levied for insufficient or non-payment of stamp duty. Stamp Duty is an integral part of any immovable property transaction that requires registration. The transaction could be either a sale, mortgage,...

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The Supreme Court on Wednesday asked the central government to consider bringing a law to regulate mobile app-based taxi service providers like Ola and Uber to ensure safety and security of women passengers.   A bench headed by Justice S.A. Bobde also asked petitioner Nipun Saxena to...

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A Bill to establish a national level regulator - Central Consumer Protection Authority (CCPA) - to deal with consumer complaints pro-actively was passed in the Lok Sabha on Tuesday by voice vote amid objections to several clauses.   Unveiling the government's argument for the passage...

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Equating cheating of home buyers by greedy builders with rape, BJP leader Vijay Goel on Thursday demanded stringent action against them.   Speaking in the Rajya Sabha during Zero Hour, he also sought action against celebrities endorsing housing projects of such...

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Aditya Joby 24 July 2019
The Real Estate Regulatory Authority Act or the RERA Act was notified with the intention of safeguarding the interests of home-buyers, and regulating the real estate market. While some states such as Maharashtra and Haryana are proactively implementing RERA, states like Andhra Pradesh do not...

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Moneylife Digital Team 23 July 2019
The government is making some changes in taxation for home owners and the security deposit paid by the tenant. While the first will make increase burden on flat owners, the other is expected to provide some relief to tenants.     As per communication from the ministry of finance, home...

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Giving respite to the 42,000 beleagured buyers of Amrapali Group, the Supreme Court on Tuesday cancelled the real estate company's RERA registration and appointed state-run National Buildings Construction Corporation Limited (NBCC) to complete all its pending projects.   A bench,...

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The Supreme Court on Tuesday asked the Central government to come up with a solution to protect the interests of home-buyers.   A bench of Justices AM Khanwilkar and Dinesh Maheshwari made the recommendation while hearing a plea filed by Chitra Sharma, an aggrieved home-buyer of...

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Sumit Saxena (IANS) 09 July 2019
The Supreme Court has issued notice to the country's leading real estate developer Niranjan Lakhumal Hiranandani and 25 others in a case of criminal conspiracy to allegedly cheat the Employees' Provident Fund Organisation (EPFO) by not depositing provident fund dues of the company's employees...

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In a bid to promote digital payments and curb black money, Union Finance Minister Nirmala Sitharaman on Friday proposed tax deduction at source (TDS) of two per cent on cash withdrawals exceeding Rs 1 crore in a year from a bank account.   "Our Government has taken a number of...

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Petrol and diesel prices are set to increase from Friday midnight as Finance Minister Nirmala Sitharaman announced an additional special excise duty (SAED) of Re 1 and a road and infrastructure cess of Re 1 per litre on both the transport fuel while presenting the Union Budget...

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Moneylife Digital Team 04 July 2019
A public interest litigation (PIL) filed by Moneylife Foundation was heard by the Supreme Court on Thursday. The bench of Chief Justice Ranjan Gogoi and Justice Deepak Gupta deferred the matter to 15 July 2019 as per request from senior counsel Arvind Datar, representing Moneylife...

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Aditya Joby 01 July 2019
Raghuvendra Sharda, a.k.a Kiku Sharda, a popular comedian from The Kapil Sharma Show, recently played a part in a very favourable judgment under the Maharashtra Real Estate Regulatory Authority (MahaRERA), not only for him, but also for countless homebuyers.    Mr Sharda had booked...

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