Does it fall within the am­bit of Con­sumer Pro­tec­tion Law?

Consumer Voice - - Legal Matters -

Ev­ery now and then, one comes across re­ports of how some com­pa­nies have been dup­ing in­vestors by mak­ing im­prac­ti­ca­ble or com­mer­cially un­vi­able prom­ises or by of­fer­ing highly at­trac­tive rates of in­ter­est or re­wards to in­vestors at the time of ac­cept­ing de­posits, with no in­ten­tion ei­ther of ful­fill­ing their obli­ga­tion of re­fund­ing the de­posits on ma­tu­rity or of ren­der­ing the ser­vices as­sured to them. At present, there are lakhs of duped in­vestors across the coun­try strug­gling to get their lost monies back. Lack of clar­ity on whom to com­plain and what le­gal pro­ce­dures to fol­low has only added to their trou­bles. This ar­ti­cle is an at­tempt to in­form in­vestors about the reme­dies or le­gal op­tions they have as ‘con­sumers’ of the fi­nan­cial in­sti­tu­tions they may have in­vested in.

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