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There are 22 regional offices of Banking Ombudsmen in India. The latest offices are opened in Jammu, Raipur, Mumbai-II & New Delhi-III. [citation needed] The type and scope of the complaints which may be considered by a Banking Ombudsman is very comprehensive, and it has been empowered to receive and consider complaints pertaining to the following;
The first chapter provides relief to those who have been dispossessed of their property. [1] —Nair Services Society Vs.K C Alexander [All India Reporter] AIR Year of Judgment-1968 SC [Supreme Court of India] Page No.1165—No suit for dispossession against the government is maintainable under Specific Relief Act.
State Commission can accept complaints from consumer if the value of goods or services is more than ₹1 crore but less than ₹10 crores ( earlier limit was between ₹20 lakh and ₹1 crore) . National Commission can accept complaints from consumer if the value of goods or services is more than 10 crores.
The National Consumer Disputes Redressal Commission (NCDRC) is a quasi-judicial government commission established in India in 1988 under the Consumer Protection Act of 1986. [3] Headquartered in New Delhi, it serves as the apex national-level forum for consumer dispute resolution in India. [3]
Articles relating to usury, the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning, taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law.
The BIFR approved the revival scheme of the company as the promoters brought in Rs. 41.20 crores as on 31.3.2011 and Rs. 22.08 crores as loan to the company to be converted into equity shares further approving the promoters contribution to be converted into equity by increasing authorised capital from existing Rs. 90 crores to Rs. 200 crores.
The India International Arbitration Centre is an autonomous [1] institution based in Delhi, to conduct arbitration, mediation, and conciliation proceedings. [2] It was established in 2019 and declared as an Institute of National Importance by an Act of Parliament.
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]