logo
Coimbatore gets additional district consumer commission

Coimbatore gets additional district consumer commission

Time of India3 hours ago

COIMBATORE: Coimbatore has got an additional district consumer disputes redressal commission to ensure speedy disposal of pending cases at the principal district commission.
Tired of too many ads? go ad free now
As many as 58 cases have been transferred to the newly established additional commission so far.
An official source said all pending cases from 2023 and 2024, which are ready for arguments at the principal district commission, were allocated to the additional commission for disposal.
The additional commission began functioning on June 16. It is functioning from Room No 7 on the first floor of the old building on the collectorate campus.
It will function three days a week—from Monday to Wednesday.
However, sources noted that the additional commission lacks adequate space and is currently operating from a single room, making it difficult for the staff to maintain records or even find space to sit.
Every year, around 500 new cases are filed at the principal district commission. At present, approximately 350 cases are pending before it.
'District commissions shall have jurisdiction to entertain complaints where the value of goods or services paid as consideration does not exceed Rs 50 lakh. The Consumer Protection Act, 2019, stipulates that every complaint shall be disposed of as expeditiously as possible, and an endeavour shall be made to decide the complaint within three months from the date of receipt of notice by the opposite party,' the source added.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Reliance Infra arm JRTR pays Yes Bank ₹273 cr for debt settlement
Reliance Infra arm JRTR pays Yes Bank ₹273 cr for debt settlement

Business Standard

time4 minutes ago

  • Business Standard

Reliance Infra arm JRTR pays Yes Bank ₹273 cr for debt settlement

Reliance Infrastructure on Monday said its wholly-owned subsidiary JR Toll Road Private (JRTR) has paid the entire debt settlement amount of Rs 273 crore to Yes Bank Ltd (YBL). Reliance Infrastructure in a regulatory filing said the agreement has also resulted in full settlement/discharge of the company's obligation as a guarantor for the said loan on behalf of JRTR. YBL does not hold any shares in the Company and is neither a related party nor part of the promoter group, it added. " ...we hereby inform that JR Toll Road Private Limited (JRTR), a wholly owned subsidiary of the Company has entered into an addendum to the settlement agreement today with Yes Bank Limited (YBL) for the entire outstanding debt obligation of Rs 273 crore (including interest) owed by JRTR to YBL, and has duly paid the entire settlement amount," Reliance Infrastructure said.

L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore
L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore

Economic Times

time15 minutes ago

  • Economic Times

L&T lists India's 1st ESG bonds on NSE, raises Rs 500 crore

Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. ADVERTISEMENT In a filing to BSE, the company said it "has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India". The company said it has raised Rs 500 crore through non-convertible debentures (NCD) at a coupon rate of 6.35 per cent. The debentures will mature over a period of three years, with annual interest payments. HSBC served as the sole lead arranger for the transaction. The bonds, issued under Sebi's newly introduced ESG and sustainability-linked bond framework, were launched on June 5. "This deal reinforces our commitment to driving L&T's ESG goals and supporting the larger energy transition objective," R Shankar Raman, president, whole-time director and CFO of the company, said. ADVERTISEMENT As part of the sustainability-linked bond agreement, the company undertakes environmental commitments, targeting measurable reductions in freshwater withdrawal intensity and greenhouse gas emissions. These goals align with the company's broader vision of achieving water neutrality by 2035 and carbon neutrality by 2040. "This successful issuance is a significant milestone in India's financial markets, illustrating growing investor appetite for ESG-compliant financial instruments and setting a benchmark for future sustainable financing ventures," it said. (You can now subscribe to our ETMarkets WhatsApp channel)

Dixon Technologies promoter sells 2.77% stake for over Rs 2,221 crore
Dixon Technologies promoter sells 2.77% stake for over Rs 2,221 crore

Time of India

time18 minutes ago

  • Time of India

Dixon Technologies promoter sells 2.77% stake for over Rs 2,221 crore

Dixon Technologies (India) promoter Sunil Vachani on Monday divested a 2.77 per cent stake in the homegrown contract manufacturer for over Rs 2,221 crore through an open market transaction. According to the bulk deal data on the BSE, Sunil Vachani, Chairperson of Dixon, offloaded 16.70 lakh shares or a 2.77 per cent stake in Noida-based Dixon Technologies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Earn from Home in Balakhal [See How] Earn Money Learn More Undo The shares were disposed of at an average price of Rs 13,301.47 apiece, taking the deal value to Rs 2,221.34 crore. Following the stake sale, Vachani's stakeholding in Dixon reduced to 2.57 per cent from 5.34 per cent. The combined holding of Dixon Tech's promoters also declined to 29.5 per cent from 32.27 per cent. Meanwhile, Motilal Oswal Mutual Fund acquired 14.45 lakh shares in two tranches, amounting to a 2.39 per cent stake in Dixon Technologies for Rs 1,924 crore. Live Events The shares were purchased at an average price of Rs 13,307.96 apiece, taking the deal size to Rs 1,923.84 crore. After the stake buy, Motilal Oswal Mutual Fund's holding in Dixon Technologies rose to 4.63 per cent from 2.24 per cent. Details of the other buyers of Dixon Technologies could not be ascertained on the exchange. Shares of Dixon Technologies (India) rose 3.55 per cent to close at Rs 14,554.10 per piece on the BSE. Last month, electronics manufacturing services company Dixon Technologies (India) reported an over four-fold jump in consolidated net profit to Rs 464.95 crore in the fourth quarter ended March 31, 2025, riding on robust revenue growth. The company had posted a consolidated net profit of Rs 97.3 crore in the corresponding quarter of the previous fiscal. Its consolidated revenue from operations stood at Rs 10,292.54 crore compared to Rs 4,657.97 crore in the year-ago quarter, the company said. In FY25, its consolidated net profit was Rs 1,232.58 crore against Rs 374.92 crore in FY24. The company's consolidated revenue from operations in FY24 stood at Rs 38,860.1 crore from Rs 17,690.9 crore in FY24, it added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store