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While modifying the order of the state commission, the national consumer disputes redressal commission (NCDRC) directed IDBI Bank Ltd to pay Rs1 lakh, the full value of its deep discount bond series-I (issued in 1992), with 9% interest to a bondholder, who did not receive the call notice given by the lender for redemption of these bonds. ....
Refusing to intervene in the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed IndusInd Bank Ltd to pay a compensation of Rs1.10 lakh to a borrower. The district forum had directed the Bank not to seek from the borrower any outstanding amount with respect to the loan agreement after selling his truck, ignoring its interim order. ....
While clarifying that the complainant is not entitled to benefits under multiple sub-clauses, the national consumer disputes redressal commission (NCDRC) says the consumer has a right to cover his insurance claim under the sub-clause which gives him a higher benefit. NCDRC then enhanced the claim to Rs2.61 lakh from Rs1.50 lakh with 9% interest and directed United India Insurance Co Ltd to pay Rs40,000 as compensation and litigation cost to the complainant. ....
Delhi High Court Single Benches In NCDRC: Delhi High Court Issues Notice To Examine NCDRC s Jurisdiction And Bench Constitution Case Title: NBCC India Limited vs. Randhir Singh Redhu and Ors.. ....
While setting aside orders passed by the fora below, the national consumer disputes redressal commission (NCDRC) clarified that the owner of a vehicle insured but not registered as per the Motor Vehicles Act and rules cannot file an insurance claim. ....