Punishments Under India’s Consumer Protection Act, 2019: What Banks and Businesses Should Know
India’s Consumer Protection Act, 2019 is designed to safeguard consumer rights and impose strict penalties on businesses that fail to comply. Whether it’s a misleading advertisement, selling adulterated products, or ignoring consumer forum orders, the law prescribes serious consequences — including imprisonment and hefty fines. Below is a simplified breakdown of the key provisions relevant…
Read article Navigating the Consumer Protection Act, 2019: Councils, Commissions, CCPA, and 2021 Jurisdiction Rules
Scope and purpose The Consumer Protection Act, 2019 replaces the 1986 law to strengthen remedies, expand definitions to cover e-commerce, and create a dedicated regulator with investigation and enforcement powers for consumer rights, misleading ads, unfair practices, and product liability. Its objective clause establishes authorities for timely and effective administration and settlement of consumer disputes,…
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Tax Laws in India: Income Tax, Commodity Transaction Tax, and GST
India’s tax framework combines direct and indirect levies to fund public expenditure, shape economic behavior, and promote equity and efficiency across markets. For financial institutions and corporates, understanding how Income Tax, Commodity Transaction Tax, and GST interact is essential for compliance, pricing, and risk management. Income Tax Commodity Transaction Tax (CTT) Goods and Services Tax…
Read article Conditions and Warranties: Meaning, Implied Conditions and Warranties
In commercial contracts—especially sale of goods and service arrangements—understanding conditions and warranties is essential for drafting, risk allocation, enforcement, and remedies. The distinction determines whether a breach allows termination or only damages, which is critical for supply, procurement, and banking vendor contracts. Meaning Practical difference Implied conditions Implied warranties Banking and finance relevance Drafting tips…
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Relations of Partners: Duties, Rights, Liabilities, and Firm Property
Partners in a firm stand in a fiduciary relationship, obligated to act with utmost good faith for the greatest common advantage of the firm, while sharing profits and losses per agreement or equally in default of contract. The Indian Partnership Act, 1932 permits partners to vary mutual rights and duties by contract, subject to core…
Definition, Meaning and Nature of a Partnership: Meaning, Essential Characteristics, Types, and LLP
A partnership is the relation between persons who agree to share the profits of a business carried on by all or any of them acting for all, capturing the core idea of mutual agency and shared profit motive under the Indian framework. The form balances entrepreneurial flexibility with personal liability, making it suitable for closely…
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