CONSUMER ISSUES


In the last week of October, I started receiving three missed calls every day from four different US numbers (all from Miami, to be precise). It continued for four days. I do not have any relatives, friends or colleagues staying in Miami, so three daily calls made me suspicious. When I checked...

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Shirish Shanbhag 15 November 2024
Cooperative housing societies (CHS/Society) often encounter unique legal and procedural challenges when managing shared property and making collective decisions. Conflicts of interest, membership transfers and redevelopment projects can lead to complex situations that require careful handling,...

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Moneylife Digital Team 12 November 2024
While upholding rulings by fora below, the national consumer disputes redressal commission (NCDRC) directed Axis Bank Ltd to pay Rs5 lakh compensation and Rs50,000 cost of litigation to the borrowers, whose truck was possessed and then sold by the lender.    In an order last week, the NCDRC...

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Moneylife Digital Team 08 November 2024
Highlighting a lack of clarity in terms and conditions in the case of surrendered insurance policies, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay Rs88,734, the premium paid by the insurer with an interest of 7%pa (per annum).   In an

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Moneylife Digital Team 08 November 2024
The Insolvency and Bankruptcy Board of India (IBBI) has proposed reforms to streamline the insolvency process for real estate companies and enhance protection for stakeholders. The seven proposals on which IBBI is seeking public comments include one that allows the handover of the ownership of...

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September 2024 will be remembered for a string of deadly attacks involving exploding pagers in Lebanon, killing and injuring several people. The blasts killed at least 37 people, including two children, wounded more than 3,000 and deeply unsettled common citizens. These explosions in...

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Shirish Shanbhag 07 November 2024
Navigating the legalities and technicalities within cooperative housing societies (CHS/Society) can be complex, especially when facing issues such as the disqualification of committee members, redevelopment of older buildings, or persistent structural problems like leakage. Many members are not...

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Debayan Roy (Bar  and   Bench) 06 November 2024
The Supreme Court on Monday said that a person with a driving licence for light motor vehicles (LMV) is entitled to drive a “transport vehicle of light motor vehicle class” having an unladen weight not exceeding 7,500 kilogram (kg) (M/s Bajaj Alliance General Insurance Co Ltd v. Rambha Devi &...

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Moneylife Digital Team 04 November 2024
Agreeing with the concurrent findings recorded by the district forum and the state commission, the national consumer disputes redressal commission (NCDRC) directed HDFC ERGO General Insurance Company Ltd to pay Rs14.45 lakh death claim on home loan insurance and Rs22,000 as compensation towards...

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Moneylife Digital Team 04 November 2024
Agreeing with the concurrent findings recorded by the district forum and the state commission, the national consumer disputes redressal commission (NCDRC) directed HDFC ERGO General Insurance Company Ltd to pay Rs14.45 lakh death claim on home loan insurance and Rs22,000 as compensation towards...

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Moneylife Digital Team 31 October 2024
Amidst the festive cheers, auto-dealers are staring at a massive inventory of 790,000 vehicles worth Rs79,000 crore. At the same time, passenger vehicle (PV or car)-makers have cut production by over 18% to 873,288 units between April and September 2024.    In September (the latest data),...

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Last week, the Visakhapatnam cybercrime police busted a gang involved in funnelling about Rs35 crore to Rs40 crore through mule bank accounts. The gang of four lured unemployed youth with the promise of jobs and high salaries. Their Aadhaar cards and permanent account numbers (PANs) were...

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Moneylife Digital Team 31 October 2024
Redevelopment often promises significant benefits, but the transition can be challenging, especially for senior citizens and financially constrained members of a cooperative housing society (CHS/Society). In such cases, members should lean on the Society's documented terms and seek external...

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Moneylife Digital Team 29 October 2024
After failing to sanction and disburse a loan, the lender is not entitled to retain the processing fee charged, rules the national consumer disputes redressal commission (NCDRC), while directing Axis Bank Ltd to refund Rs4.96 lakh collected as processing fee with an interest of 9%pa (per annum)...

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Moneylife Digital Team 28 October 2024
Citing 'extraordinary' circumstances and 'larger public interest', the national pharmaceutical pricing authority (NPPA), under the Union ministry of health and family welfare (MoHFW) increased the ceiling prices of 11 scheduled formulations of eight drugs by 50% of their current ceiling prices....

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Moneylife Digital Team 25 October 2024
Raising concerns over the recent tariff hike by two telecom companies and silence from the telecom regulator, EAS Sarma, former secretary to the government of India (GoI), alleges that both the telecom regulatory authority of India (TRAI) and the department of telecommunications (DoT) are...

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Moneylife Digital Team 25 October 2024
In a significant relief to bank customers who face account freeze on instruction from the local police or the National Cyber Crime Reporting Portal (NCRP), the Madras High Court (HC) recently ruled that it cannot pass an order freezing the entire account without quantifying the amount involved...

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Chennai-based urologist Dr Jaison Philip shared a video on X about a scam that occurred inside the Bengaluru International Airport to a woman traveller who uses an iPhone. In September, while at the airport, the woman was asked to download an app called Lounge Pass on her mobile when she wanted...

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Shirish Shanbhag 24 October 2024
Navigating legal processes in a cooperative housing society (CHS/Society) can often be complex and time-consuming, especially when it comes to matters like leasing, property transfers or handling inheritance. Many residents and property-owners are unaware of the specific rules and regulations...

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Moneylife Digital Team 22 October 2024
Lohardaga, Jharkhand-based Urmila Oraon's family of seven have six bank accounts. But all the bank accounts are frozen – mainly due to know-your-customer (KYC) issues. Three accounts in Sora Oraon's family are frozen and when she applied for KYC, the bank gave her a token appointment for 27...

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