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SC upholds validity of provisions of Consumer law fixing pecuniary jurisdiction bar
Economic Times
·
4m ago
Medial
The Supreme Court upheld the Consumer Protection Act of 2019, confirming the constitutionality of its provisions on pecuniary jurisdiction across district, state, and national commissions. These provisions are based on the monetary consideration for goods and services rather than compensation claims. The court stated this classification aligns with the Act's objectives, ensuring a structured judicial remedy system. It refuted claims that this jurisdiction setup was discriminatory or impaired consumer rights.
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Government enforces new rules for influencers endorsing products and therapies
Startup News FYI
·
2y ago
Medial
The Union government has implemented fresh guidelines to ensure that social media influencers and endorsers of medical products or therapies adhere to the Consumer Protection Act. The rules target misleading advertisements, unsubstantiated claims, and lack of transparency in health and wellness endorsements, incorporating penal provisions under the consumer protection law.
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Madras HC upholds Tamil Nadu’s restrictions on real money games
Economic Times
·
2m ago
Medial
The Madras High Court upheld Tamil Nadu's restrictions on real money games, including a ban on gameplay during midnight to 5 am and mandatory Aadhaar verification. Gaming companies challenged these under the Tamil Nadu Prohibition of Online Gambling and Regulation of Online Games Act, 2022. The court affirmed the state's regulatory authority based on public health and trade provisions. Additionally, the sector faces a 28% GST levy, with scrutiny over tax evasion amid its significant economic footprint.
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RBI imposes penalty on HDFC Bank, Shriram Finance
Economic Times
·
1m ago
Medial
The Reserve Bank of India (RBI) imposed a penalty of Rs 4.88 lakh on HDFC Bank for violating foreign investment norms when granting a term loan. Additionally, Shriram Finance Limited faced a Rs 2.70 lakh fine for non-compliance with digital lending provisions. The penalties stemmed from inspections and regulatory deficiencies found in compliance, intending to address the breaches without commenting on the validity of transactions or agreements made by the entities with customers.
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NCLAT upholds Adani Goodhomes’ resolution plan for Radius Estates
Livemint
·
1y ago
Medial
Adani Goodhomes' resolution plan to acquire bankrupt real estate company Radius Estates has been upheld by the National Company Law Appellate Tribunal (NCLAT). The decision rejects challenges from creditors and debenture holders who claimed collusion between the resolution professional and HDFC Ltd. Adani Goodhomes, a subsidiary of Adani Infrastructure and Developers, offered approximately ₹76 crore to creditors, resulting in a 96% haircut, and promised to complete the Mumbai residential project at no additional cost to homeowners. The bid had previously received approval from over two-thirds of the company's creditors and the NCLAT's ruling affirms the earlier decision by the Mumbai bench of the National Company Law Tribunal.
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Nigerian tribunal upholds $220 million fine against Meta
Economic Times
·
4m ago
Medial
A Nigerian tribunal upheld a $220-million fine against Meta, parent company of Facebook and WhatsApp, imposed by Nigeria's consumer protection agency for multiple data violations. Meta is required to pay an additional $35,000 for investigation costs. Nigeria accused Meta of violating data protection and consumer rights, alleging discriminatory practices and unauthorized data sharing. Meta, disagreeing with the decision, is also facing similar issues in Europe related to data protection rules.
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US Supreme Court upholds law banning TikTok
Economic Times
·
7m ago
Medial
The US Supreme Court upheld a law banning TikTok, affecting 170 million users, citing national security concerns over Chinese ownership. Despite arguments from TikTok's owner, ByteDance, claiming a violation of free speech, the court prioritized security worries over data collection. Congress mandated ByteDance to sell or shut the app by January 19, fearing espionage. The ban will proceed, with debates ongoing over potential delays and attempts to find a US buyer to protect user data.
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SC stays Madras HC order in Testbook suit against Google Play Store billing - The Economic Times
Economic Times
·
25d ago
Medial
The Supreme Court has stayed a Madras High Court order which denied Google's attempt to halt proceedings initiated by Testbook Edu Solutions over Google's new payment policies on the Play Store. Testbook claims the policies, which impose fees on developers, are unfair. Google argues the suit falls under the jurisdiction of the Competition Commission of India, not civil courts, and contradicts previous rulings that supported Google's stance on similar claims.
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SC refuses interim relief to Games 24x7 & Head Digital Works on tax notices
Inc42
·
1y ago
Medial
The Supreme Court has denied interim relief to e-gaming companies Games24x7 and Head Digital Works, regarding Goods and Services Tax (GST) demand notices. The court will consider the constitutional validity of imposing a 28% GST on the full value of bets placed in online games, instead of the gross gaming revenue. The online gaming industry in India is also facing other challenges, with platforms like Quizzy, OWN, and Fantok temporarily suspending operations due to changing tax and regulatory conditions. Show-cause notices for suspected tax evasion have also been issued to several companies.
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28% GST On Gaming: SC Schedules Final Hearing On July 25
Inc42
·
1m ago
Medial
The Supreme Court of India will hold a final hearing on July 25 concerning GST evasion allegations totalling INR 1.12 Lakh Cr against online gaming companies. These companies argue that the 28% GST on real money games is flawed and lacks legal basis since Rule 31A of the GST Rules did not comply with mandatory processes. The gaming platforms claim retrospective GST notices and unclear provisions violate tax principles, seeking revocation of these notices.
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SC upholds Himachal's demand for 18% free electricity from JSW Hydro Energy’s Karcham Wangtoo plant
Economic Times
·
1m ago
Medial
The Supreme Court of India ruled in favor of Himachal Pradesh's demand for 18% free electricity from JSW Hydro Energy’s Karcham Wangtoo plant, overriding the Himachal Pradesh High Court's 13% cap, underlining the generating company’s contractual obligations. Despite CERC’s 2019 regulations limiting free supply to 13%, the court deemed no prohibition against JSW supplying beyond this. Contractual agreements should be honored, ensuring interpretations don’t breach undertakings implicitly supported by regulations.
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