Activate promised number or pay Rs 50K: DK Consumer Forum to Airtel

February 3, 2017

Mangaluru, Feb 3: In a clear victory for an aggrieved consumer, Dakshina Kannada District Consumer Disputes Redressal Forum has decreed that mobile service provider Airtel is guilty of deficiency in service and ordered the company to pay compensatory amounts to the complainant.

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In the year 2013, Mr. Abdullah A. Rehman, a city based youth had placed a confirmed order with Airtel Relationship Centre, Paradigm Plaza, AB Shetty Circle, Mangaluru for a SIM card with a specific cellphone number and paid Rs 1750 towards the purchase.

After some time the company contacted Abdullah A. Rehman and informed him that the number paid for is a fancy number and demanded a premium of Rs. 25,000/- from him. When Abdullah Rehman refused to pay the extra amount demanded and insisted that they activate the number already paid for, Airtel went ahead and sold the number to some other customer in Delhi for Rs. 25,000/-

Hence Abdullah A. Rehman decided to seek legal remedy and Dakshina Kannada District Consumer Disputes Redressal Forum accepted his complaint on 4th April, 2013. After listening to both parties, Additional Bench of the Forum presided by Mr. Vishweshwara Bhat D. with Mr. T. C. Rajashekar as member found that the service provider was at fault. In its order dated 3rd December 2016, the bench decreed Airtel company to either re-allot and activate the number paid for or alternatively pay Rs. 25,000/- with 9% interest from the date of complaint. It also ordered payment of Rs. 20,000/- as compensation for mental agony and hardship and Rs. 5,000/- towards litigation costs within 30 days of the receiving the order.

Abdullah A. Rehman who received his copy of the order days only few back is jubilant about his victory. “Oftentimes corporates riding high on their power assume that they can get away with their flaws by framing several tiresome procedures. It's unfair they take such matters mildly. Today I am glad that through this order, justice is delivered and rekindled the hope in the common man towards our judiciary,” he says.

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Great ....................Capitalism doesnt work in some areas

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LIC will be IPO of the decade, akin to Saudi Aramco listing: Experts

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February 2,2020

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

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HDK appeals to Centre to announce rent rebate scheme to benefit tenants

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April 12,2020

Bengaluru, Apr 12: Former chief minister H D Kumaraswamy on Sunday appealed to the Central government to announce the rent rebate scheme for the benefit of tenants in the wake of economic activities coming to a grinding halt due to COVID-19 related lockdown.

In a series of tweets, Kumaraswamy said people are facing difficulty in paying rent as usual and hence the rent rebate scheme should be initiated.

"Many countries have already announced rent rebate scheme for tenants during COVID19 emergency. It is surprising that Indian Govt has not announced any such relief even to residential tenants. I urge the PM to immediately come to the rescue of everyone living in rented housing," Kumaraswamy tweeted.

He said a considerable workforce and students in metropolitan cities live in hostels and rented houses.

As all economic activity has come to a grinding halt, it is very difficult for them to pay the rent as usual.

The Prime Minister must announce rent rebate scheme, he added.

Highlighting the plight of the tenants, Kumaraswamy said, "If the landlords insist on rent, the tenants cannot even go searching for new accommodation due to the emergency. Hence the government intervention is essential. The PM must announce a comprehensive national rent rebate scheme for COVID-19 emergency."

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