The stock market can be a complex and intimidating place, especially for beginners. There are many terms and concepts that can be confusing, making it difficult to understand how things work. This blog post aims to demystify some of the most basic stock market terms, so you can feel more confident navigating the investment world. 1. P/E Ratio (Price-to-Earnings Ratio) The P/E ratio is a metric used to compare a company's stock price to its earnings per share (EPS). It essentially tells you how much you are paying for each rupee of a company's earnings. A higher P/E ratio can indicate that a stock is more expensive relative to its earnings, while a lower P/E ratio can indicate that a stock is cheaper. However, it is important to remember that the P/E ratio is just one factor to consider when evaluating a stock, and it should be compared to similar companies within the same industry. 2. Dividends Dividends are a portion of a company's profits that are paid out to its sharehol
Introduction:-
The Consumer Protection Act, 2019 is a legislation passed by the Indian Parliament to replace the previous Consumer Protection Act, 1986. The new Act came into effect from July 20, 2020. The Act aims to protect the rights and interests of consumers by providing a strong legal framework for consumer protection.
The Consumer Protection Act, 2019 defines a consumer as any person who:
- Buys any goods for a consideration which has been paid or promised or partly paid and partly promised, or under any system of deferred payment.
- Hires or avails of any services for a consideration which has been paid or promised or partly paid and partly promised, or under any system of deferred payment.
- Uses the goods or services with the approval of the buyer or hirer or availer.
In other words, a consumer is someone who purchases goods or services for personal use or consumption and not for resale or commercial purposes. The Act provides protection to consumers against unfair trade practices and ensures that they are able to make informed decisions while purchasing goods and services.
The key features of the Consumer Protection Act, 2019 are:
Overall, the Consumer Protection Act, 2019 is a comprehensive legislation that provides greater protection to consumers and aims to promote fair trade practices in the market.
Title: Case Study of Rajesh Gautam vs Samsung India Electronics Pvt. Ltd. on Consumer Protection Act 2019
Introduction:
Title: Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019: A Case Study on Consumer Protection Act, 2019
Introduction:
Consumer protection is an essential aspect of any economy, and India is no exception. The Consumer Protection Act, 2019, came into force on July 20, 2020, replacing the previous Consumer Protection Act, 1986. The new act seeks to protect the interests of consumers by providing speedy, affordable, and effective resolution of consumer disputes. In this case study, we will discuss the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, and how the Consumer Protection Act, 2019, was used to resolve the dispute.
Facts of the Case:
Mr. Darshan Singh Gill, the complainant, had booked a flat with M/S Manohar Infrastructure And ..., the respondent, in a residential project in Mohali, Punjab. The complainant had paid Rs. 12.5 lakhs as the booking amount, but the respondent failed to deliver the possession of the flat within the stipulated time frame. The complainant had made several requests to the respondent to refund his money, but they failed to do so. The complainant then approached the District Consumer Disputes Redressal Commission, Mohali, to seek relief under the Consumer Protection Act, 1986.
Issues:
The primary issues in the case were:
Judgment:
The District Consumer Disputes Redressal Commission, Mohali, passed a judgment in favor of the complainant. The commission held that the respondent was liable to refund the booking amount of Rs. 12.5 lakhs to the complainant with interest at the rate of 10% per annum from the date of payment till the date of realization. The commission also directed the respondent to pay a compensation of Rs. 1 lakh to the complainant for the mental agony and harassment caused by the delay in possession.
Analysis:
The judgment in the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, is a landmark case in the field of consumer protection. It highlights the importance of protecting the interests of consumers and holding businesses accountable for their actions. The new Consumer Protection Act, 2019, has made it easier for consumers to seek relief in case of any unfair trade practices, defective goods or services, and deficiency in service.
The act has introduced several new provisions, such as the establishment of the Central Consumer Protection Authority, the provision for mediation, and the provision for product liability, to name a few. These provisions ensure that consumers have access to speedy, affordable, and effective redressal of their grievances.
Conclusion:
In conclusion, the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, is a prime example of how the new Consumer Protection Act, 2019, has strengthened the rights of consumers and provided them with a robust framework to seek relief in case of any grievances. The act has not only provided for better protection of consumer interests but has also brought in greater accountability on the part of businesses, which ultimately leads to a more transparent and fair business environment.
Parties involved:
Consumer: Ms. Priya Sharma
- Establishment of Central Consumer Protection Authority (CCPA): The Act provides for the establishment of a CCPA, which will protect, promote, and enforce the rights of consumers. The CCPA has the power to investigate and take action against misleading advertisements, unfair trade practices, and violation of consumer rights.
- Definition of Consumer: The definition of a consumer has been broadened to include e-commerce transactions and tele-shopping. It also includes any person who buys goods or avails services for a consideration, regardless of whether the goods or services are used for commercial purposes or personal use.
- Product Liability: The Act introduces the concept of product liability, which holds manufacturers, sellers, and service providers responsible for any harm caused to consumers due to defective products or services.
- Consumer Dispute Redressal Commission: The Act provides for the establishment of Consumer Dispute Redressal Commissions at the national, state, and district levels. These commissions will provide speedy and cost-effective resolution of consumer disputes.
- Consumer Welfare Fund: The Act provides for the establishment of a Consumer Welfare Fund, which will be used for consumer welfare activities, including consumer awareness and education.
Overall, the Consumer Protection Act, 2019 is a comprehensive legislation that provides greater protection to consumers and aims to promote fair trade practices in the market.
Case Study No.1:-
Introduction:
The Consumer Protection Act, 2019 is a recent legislation that aims to provide better protection to consumers against unfair trade practices and ensure their rights are safeguarded. This case study examines a legal dispute between Sh. Rajesh Gautam, a consumer, and Samsung India Electronics Pvt. Ltd., a well-known electronics manufacturer.
Background:
Background:
Sh. Rajesh Gautam purchased a Samsung Galaxy S9 smartphone from Samsung India Electronics Pvt. Ltd. in May 2018. The smartphone came with a one-year warranty from the date of purchase. In February 2019, the phone stopped working, and Sh. Rajesh Gautam approached the Samsung service center to avail of the warranty. However, the service center informed him that the warranty had expired, and he would need to pay for the repair.
Sh. Rajesh Gautam was dissatisfied with this response and filed a complaint with the District Consumer Disputes Redressal Forum in March 2019, claiming that Samsung India Electronics Pvt. Ltd. had violated his rights as a consumer by not honoring the warranty. He sought a refund of the phone's cost and compensation for mental harassment and inconvenience.
Legal Proceedings:
Sh. Rajesh Gautam was dissatisfied with this response and filed a complaint with the District Consumer Disputes Redressal Forum in March 2019, claiming that Samsung India Electronics Pvt. Ltd. had violated his rights as a consumer by not honoring the warranty. He sought a refund of the phone's cost and compensation for mental harassment and inconvenience.
Legal Proceedings:
The District Consumer Disputes Redressal Forum heard the case and found in favor of Sh. Rajesh Gautam. The forum held that Samsung India Electronics Pvt. Ltd. had breached its obligations under the Consumer Protection Act, 2019, by not honoring the warranty, and directed the company to refund the cost of the phone, compensate Sh. Rajesh Gautam for mental harassment and inconvenience, and pay the legal costs.
Samsung India Electronics Pvt. Ltd. appealed the decision before the State Consumer Disputes Redressal Commission, arguing that the warranty had expired, and Sh. Rajesh Gautam had not followed the proper procedure for availing of the warranty. The State Consumer Disputes Redressal Commission, after hearing the case, upheld the District Consumer Disputes Redressal Forum's decision and dismissed the appeal.
Samsung India Electronics Pvt. Ltd. then approached the National Consumer Disputes Redressal Commission, challenging the lower courts' decisions. The National Consumer Disputes Redressal Commission heard the case and upheld the previous rulings, noting that Samsung India Electronics Pvt. Ltd. had failed to honor the warranty and had not provided any evidence to support its claim that the warranty had expired.
Conclusion:
Samsung India Electronics Pvt. Ltd. appealed the decision before the State Consumer Disputes Redressal Commission, arguing that the warranty had expired, and Sh. Rajesh Gautam had not followed the proper procedure for availing of the warranty. The State Consumer Disputes Redressal Commission, after hearing the case, upheld the District Consumer Disputes Redressal Forum's decision and dismissed the appeal.
Samsung India Electronics Pvt. Ltd. then approached the National Consumer Disputes Redressal Commission, challenging the lower courts' decisions. The National Consumer Disputes Redressal Commission heard the case and upheld the previous rulings, noting that Samsung India Electronics Pvt. Ltd. had failed to honor the warranty and had not provided any evidence to support its claim that the warranty had expired.
Conclusion:
The Sh. Rajesh Gautam vs Samsung India Electronics Pvt. Ltd. case is a significant example of how the Consumer Protection Act, 2019 can protect the rights of consumers. The Act provides consumers with various rights, including the right to be protected against unfair trade practices, the right to be informed, the right to choose, the right to seek redressal, and the right to be heard. In this case, Sh. Rajesh Gautam was able to assert his rights and seek justice through the legal system, and Samsung India Electronics Pvt. Ltd. was held accountable for violating his consumer rights.
Case Study No.2:-
Title: Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019: A Case Study on Consumer Protection Act, 2019
Introduction:
Consumer protection is an essential aspect of any economy, and India is no exception. The Consumer Protection Act, 2019, came into force on July 20, 2020, replacing the previous Consumer Protection Act, 1986. The new act seeks to protect the interests of consumers by providing speedy, affordable, and effective resolution of consumer disputes. In this case study, we will discuss the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, and how the Consumer Protection Act, 2019, was used to resolve the dispute.
Facts of the Case:
Mr. Darshan Singh Gill, the complainant, had booked a flat with M/S Manohar Infrastructure And ..., the respondent, in a residential project in Mohali, Punjab. The complainant had paid Rs. 12.5 lakhs as the booking amount, but the respondent failed to deliver the possession of the flat within the stipulated time frame. The complainant had made several requests to the respondent to refund his money, but they failed to do so. The complainant then approached the District Consumer Disputes Redressal Commission, Mohali, to seek relief under the Consumer Protection Act, 1986.
Issues:
The primary issues in the case were:
- Whether the respondent was liable to refund the booking amount to the complainant as they had failed to deliver possession of the flat within the stipulated time frame?
- Whether the complainant was entitled to compensation for mental agony and harassment caused by the delay in possession?
Judgment:
The District Consumer Disputes Redressal Commission, Mohali, passed a judgment in favor of the complainant. The commission held that the respondent was liable to refund the booking amount of Rs. 12.5 lakhs to the complainant with interest at the rate of 10% per annum from the date of payment till the date of realization. The commission also directed the respondent to pay a compensation of Rs. 1 lakh to the complainant for the mental agony and harassment caused by the delay in possession.
Analysis:
The judgment in the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, is a landmark case in the field of consumer protection. It highlights the importance of protecting the interests of consumers and holding businesses accountable for their actions. The new Consumer Protection Act, 2019, has made it easier for consumers to seek relief in case of any unfair trade practices, defective goods or services, and deficiency in service.
The act has introduced several new provisions, such as the establishment of the Central Consumer Protection Authority, the provision for mediation, and the provision for product liability, to name a few. These provisions ensure that consumers have access to speedy, affordable, and effective redressal of their grievances.
Conclusion:
In conclusion, the case of Darshan Singh Gill vs M/S Manohar Infrastructure And ... on 18 July, 2019, is a prime example of how the new Consumer Protection Act, 2019, has strengthened the rights of consumers and provided them with a robust framework to seek relief in case of any grievances. The act has not only provided for better protection of consumer interests but has also brought in greater accountability on the part of businesses, which ultimately leads to a more transparent and fair business environment.
Case Study No.3:-
Parties involved:
Consumer: Ms. Priya Sharma
Seller: Mr. Rohit Gupta
Product: Mobile Phone
Amount: INR 20,000
Background:
Ms. Priya Sharma purchased a mobile phone from Mr. Rohit Gupta's store for INR 20,000. The phone was advertised as having certain features such as a long battery life and a high-quality camera. However, Ms. Sharma found that the phone did not live up to its advertised features and also had some defects.
She contacted Mr. Gupta to request a refund or replacement of the phone, but he refused to take any action. Ms. Sharma then filed a complaint with the Consumer Disputes Redressal Commission (CDRC) under the Consumer Protection Act 2019.
Legal proceedings:
The CDRC conducted a hearing and found that Mr. Gupta had engaged in unfair trade practices by selling a defective product and making false claims about its features. The CDRC ordered Mr. Gupta to refund the full amount of INR 20,000 to Ms. Sharma and also pay her compensation of INR 5,000 for the mental agony and harassment caused.
Mr. Gupta appealed the decision to the State Consumer Disputes Redressal Commission, but the decision was upheld. He then filed an appeal to the National Consumer Disputes Redressal Commission (NCDRC), but the NCDRC also upheld the original decision.
Conclusion:
Ms. Sharma was able to receive a refund for the defective product and compensation for the mental agony and harassment caused by the seller due to the provisions of the Consumer Protection Act 2019. The Act provides consumers with greater protection against unfair trade practices and false advertising, and empowers them to seek legal redressal for grievances.
Background:
Ms. Priya Sharma purchased a mobile phone from Mr. Rohit Gupta's store for INR 20,000. The phone was advertised as having certain features such as a long battery life and a high-quality camera. However, Ms. Sharma found that the phone did not live up to its advertised features and also had some defects.
She contacted Mr. Gupta to request a refund or replacement of the phone, but he refused to take any action. Ms. Sharma then filed a complaint with the Consumer Disputes Redressal Commission (CDRC) under the Consumer Protection Act 2019.
Legal proceedings:
The CDRC conducted a hearing and found that Mr. Gupta had engaged in unfair trade practices by selling a defective product and making false claims about its features. The CDRC ordered Mr. Gupta to refund the full amount of INR 20,000 to Ms. Sharma and also pay her compensation of INR 5,000 for the mental agony and harassment caused.
Mr. Gupta appealed the decision to the State Consumer Disputes Redressal Commission, but the decision was upheld. He then filed an appeal to the National Consumer Disputes Redressal Commission (NCDRC), but the NCDRC also upheld the original decision.
Conclusion:
Ms. Sharma was able to receive a refund for the defective product and compensation for the mental agony and harassment caused by the seller due to the provisions of the Consumer Protection Act 2019. The Act provides consumers with greater protection against unfair trade practices and false advertising, and empowers them to seek legal redressal for grievances.
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