Seminar on ‘Investment Management and Investor Grievance Redressal’

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Seminar on
‘Investment Management and Investor Grievance Redressal’
on 20th August at 5.00 pm at Walchand Hirachand Hall, IMC, Mumbai

The IMC’s Capital Market Committee has organised a seminar on ‘Investment Management and Investor Grievance Redressal’ on 20th August from 5.00 pm at Walchand Hirachand Hall IMC, Mumbai, Mumbai. This seminar will focus on two important issues i.e. Investment Management and Investor Grievance Redressal issues.

Investment Management
Any investment decision requires professional investment management advise, asset allocation at various securities shares, bonds and other securities/assets in order to meet specified investment goals for the benefit of the investors. Investors may be institutions insurance companies, pension funds, corporations etc. or private investors. It is always advisable to seek guidance from professional Investment Management that helps you understand and control risks. This session will be addressed by Mr. Mehrab Irani, General Manager – Investments, Tata Investment Corporation Limited.

Investor Grievance Redressal
Investors come to the markets to make money on their investments. However due to carelessness and lack of knowledge get into various problems wherein their capita gets stuck due to systemic problems. Mrs. Deena Mehta will speak on precautions to be taken for keeping your investments secure. Mrs. Mehta will also guide you on legal remedies available within the securities market frame work for addressing various queries. Mr. T. Pandian, Registrar of Companies (ROC) will also share the session and guide investors on steps taken by ROC to protect the interest of investors.

There are no registration charges. Registration is compulsory. To register please email following details to priyanka@imcnet.org:

Name:
Company
Designation:
Email ID:
Phone No:

With regards,

Arvind Pradhan
Director General

Newsletter Consumer Alert August – 2014

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Greetings from CERC.
We bring to you the August issue of our monthly e-magazine, Consumer Alert. We were happy to have the Ministry of Consumer Affairs officials visit CERC in late June and express their support for our organisation. This time, our product Test Report is on Packaged Soup which may not be as healthy as claimed to be. In Tips we tell you how to save at restaurants. We bring you a feature called Behind the Brands that tells you how the company that makes your favourite brand fares on social and environmental issues.

We await your valuable feedback. Do write in mentioning the city you reside in.

Happy reading!

With best wishes
Team Alert

AUGUST 2014

10 Digital Solutions to Make India the Best-Governed Nation

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A 10-point digital roadmap for Mr Narendra Modi, that protects our assets, ensures that the right projects are undertaken, and delivers justice, equality, and liberty for all

Prime Minister Narendra Modi has inherited an India with major challenges: an economy that fails to distribute the needs but pushes the wants; an environment that is being irreversibly stripped off; a hassle-filled life where red tape, fraud, corruption and indifference are ever increasing; failed land-use management is destroying India’s forests, mountains, rivers, streams, and farms, and at the same time flooding its courts with disputes. Over and above all this, it is almost impossible to make the right projects happen in the right place at the right time wasting thousands of crores of tax-payers’ money

To remove all these ills, Mr Modi has to redesign the way governance works. What should he do to redesign governance quickly? Here is a roadmap that focuses on the need to protect the assets of the country, and to ensure that the right projects are being undertaken, where no one is denied benefits, where justice, equality, and liberty are within reach, the future scenarios are shared, and democracy is not a distant dream.

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Sold goods can always be returned

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PUSH FOR CONSUMER RIGHTS – Sold goods can always be returned: Forum

The state consumer commission on Wednesday ruled in favour of a man who took on a clothing showroom for forcing on its customers the illegal condition that “goods once sold cannot be returned or exchanged”.

Many people were unaware of the letter issued by the department of consumer affairs in Delhi in December 22, 1999, prohibiting printing the condition that “goods once sold will not be taken back“ on receipts.
“Hopefully through such state commission orders, people who have similar issues will be aware of their rights. Such illegal practices need to be curbed,“ Lonke said. “I have spent more on fighting this complaint than the compensation awarded. But I am happy with the positive outcome.“

Lonke also cited a Pune district forum order of May 30, 2012, in which a clothing store was directed to refund Rs 240, along with Rs 1,000 compensation, to a woman who wanted to return a pair of leggings that did not fit her.
The forum had observed that printing such a non-return policy on the bill amounted to unfair trade practice.

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Those who buy shares as an investment are consumers

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Since shares are “traded”, consumer fora treat this matter as a commercial dispute, which is not maintainable. In a recent judgment, the national commission has differentiated between trading in shares and purchase of shares as an investment, and ruled that an applicant for shares is a consumer.

In its order dated April 1, 2014 delivered by Justice V B Gupta for the bench, along with Suresh Chandra, the national commission differentiated between trading in shares and allotment of shares. An applicant who applies for shares would stand on a different footing from one who trades in shares for commercial purpose.

Since Apritha has applied for allotment, she would be a consumer and was entitled to approach the consumer fora.

The national commission held that deficiency on the part of the company was evident from the board resolution and the agreement. Accordingly, the revision petition was dismissed and the order of the state commission in Arpitha’s favour was confirmed. It also imposed a fine of Rs 10,000 on the company to be paid to legal aid.

Conclusion: Those who trade in shares are not consumers, but those who buy shares as an investment are consumers.

Courtesy : Jehangir Gai

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3 Kinds of ‘Tenants’ and their rights

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3 Kinds of ‘Tenants’ and their rights

What are the rights of statutory tenant, lessee and licensee?

Letting out premises is a sensitive issue. Both landlords and tenants turn hawkish in any discussion on this. The battle of owners versus occupiers would turn less hostile if each understood their limits, claiming only that which is rightfully theirs. There can be roughly three kinds of occupation – statutory tenant, lessee and licensee. Described below are the rights of each of them.

 

DIVYA B MALCOLM 28/07/2014 03:20 PM  http://www.moneylife.in/article.print_edition.php?id=38233

Take Public Grievances Online

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Conscious citizens have been empowered by online grievance platforms. Use them!

Alot of things are wrong with our roads. We grumble about it and then move on, because ‘things will never change’. That’s not correct anymore. And the reason for this is simple—two of the three priority areas for the present government are: public grievances and Centre-state relationships. Both of these, in turn, impact us as owners and operators of motor vehicles in India. I am narrating personal experiences over the past few weeks.

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Make my trip ??

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ALERT – MAKE MY TRIP DOES NOT RESPOND EVEN WHEN CUSTOMER GRIEVANCES ARE TAKEN UP BY THE MINISTRY OF TOURISM – Jehangir Gai
Consumers, beware of MakeMyTrip.Com. Complaints against the company are on the rise. The company does not even bother to respond to grievances routed through the Minstry of Tourism, Government of India, as is evident from the scanned copy of the letter hereto. As a consumer activist, having received the National Youth Award for Consumer Protection, I feel it is my duty to alert consumers to the uncaring attitude of the company.

Now, govt. staff will have to declare assets annually

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Its now mandatory for government servants to declare their assets annually. Section 4 of the RTI Act mandated transparency only in terms of their salary and compensation. Strangely, the new rules have not been pubicised

Section 4 of the Right to Information (RTI) Act mandates that salaries and compensationpackages of government servants including officers from Indian Administrative Service/ Indian Police Service (IAS/IPS) cadre, be put up on the website of the relevant public authority. The notification issued last week by the  Department of Personnel & Training (DOPT) should come as a shock for government employees who have been amassing wealth, beyond their means. They will need to declare their assets by September this year and then by March or July, every year.

Every government employee is now required to file his annual returns pertaining toassets and liabilities, along with that of his wife and children, on a newly drafted declaration form. The notification is a sequel to the Lokpal and Lokayukta Act, 2013. The rules are termed as Public Servants (Furnishing of Information and Annual Return ofAssets and Liabilities and the Limits for Exemption of Assets in Filing Returns) Rules, 2014.

As per the notification by the DoPT, this declaration has to be made by every government servant over and above other declarations as per his/ her services rules.

…………….VINITA DESHMUKH

 

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Development/Redevelopment of Housing Schemes of MHADA

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Development/Redevelopment of Housing Schemes of MHADA

mhada buildingBy Accommodation Times News Service

1) The FSI for a new scheme on vacant lands of low Cost Housing Scheme for Economically Weaker Section, Low Income Groups and Middle Income Groups of MHADA having at least 60 percent built-up area of the tenements under EWS, LIG and MIG categories, shall be 2.50

2) For redevelopment of any existing housing scheme of MHADA, undertaken by the MHADA departmentally or jointly with societies /occupiers of buildings or housing societies/ occupiers of building or by lessees of MHADA or by developer, the FSI shall be as under.-

a) Total permissible FSI shall be maximum 2.5 on gross plot area.

b) The incentive FSI admissible against the FSI required for rehab shall be as under:-

i) In congested area, for the area upto4000 sq. m., the incentive FSI admissible will be 50 percent.

ii) In congested area, for the area above 4000 sq.m. the incentive FSI admissible will be 60 percent.

iii) In outside congested area, for the area upto 4000 sq.m, the incentive FSI admissible will be 60 percent.

iv) In outside congested area, for the area above 4000 sq.m., the incentive FSI will be 75 percent.

c) Difference between 2.5 FSI and the FSI required for “rehab + incentive” shall be shared between MHADA and Occupiers Society/ developer in the ratio of 2:1

d) In the scheme, for the land allotted for societies of MIG and HIG and developed plot allotted individually to MIG and HIG group, the permissible FSI shall be as per prevailing Development Control Regulations

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