Complaint not barred if default continues
Business Standard|September 30, 2024
The directors of Atma Steel, a limited company, were closely acquainted with Major Dara Singh and his son Harveer Singh.
JEHANGIR B GAI

They visited the Singhs at their Kanpur Nagar home to request them to deposit money in the company. The Singhs were assured that they would receive interest and would be allowed to withdraw their deposit along with interest whenever they wished to do so. The Singhs deposited ₹25,000 on May 15, 1974.

When the Singhs needed funds in 1981, the company paid ₹10,000 as interest but failed to pay the remaining amount, which continued as a deposit. According to the Singhs, the amount due to them up to 1993 amounted to ₹4,73,074.74. However, the company sent a reply on December 1, 1993, in which it claimed that it did not have the relevant documents.

After follow-up, on October 10, 1995, the company assured them that it would resolve the grievance within a month. Since the company failed to make any payment, the Singhs filed a complaint before the Kanpur Nagar District Forum in Ghaziabad. The company did not bother to contest the case, so the Forum allowed the complaint.

Diese Geschichte stammt aus der September 30, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der September 30, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
Industry bodies urge FinMin to ease TDS rate structure
Business Standard

Industry bodies urge FinMin to ease TDS rate structure

Proposal seeks to lessen compliance burden on taxpayers and avoid litigation

time-read
1 min  |
November 08, 2024
After SC rap, Centre doubles penalty for stubble burning
Business Standard

After SC rap, Centre doubles penalty for stubble burning

Burning issue

time-read
1 min  |
November 08, 2024
Business Standard

Proactively made all disclosures, recusals: Sebi WTM on Cong's charges

Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.

time-read
1 min  |
November 08, 2024
Business Standard

Market regulator may water down skin-in-game rules for MF executives

The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.

time-read
1 min  |
November 08, 2024
Business Standard

MSCI adds 5 Indian stocks to key index

MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.

time-read
1 min  |
November 08, 2024
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Business Standard

Trump's triumph: Will bulls run amok and gold, silver sparkle?

Top brokerages highlight opportunities, risks, and contradictions the new administration may offer

time-read
3 Minuten  |
November 08, 2024
REIMAGINING ROLE OF AGRICULTURE
Business Standard

REIMAGINING ROLE OF AGRICULTURE

In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics

time-read
6 Minuten  |
November 08, 2024
Inside the world of mad billionaires
Business Standard

Inside the world of mad billionaires

Two things about this book and its authors. One, this is the most unputdownable non-fiction that I have read this entire year.

time-read
3 Minuten  |
November 08, 2024
Business Standard

Funding education

Easy financial assistance is not enough

time-read
2 Minuten  |
November 08, 2024
Business Standard

Policy approach

RBI is acting selectively and with care

time-read
2 Minuten  |
November 08, 2024