SC: Borrowers taking loans for profit not protected under consumer law

The Supreme Court ruled that borrowers are not 'consumers' under the Consumer Protection Act if the loan is for profit-making purposes. This decision overturned an NCDRC order which had directed the Central Bank of India to compensate Ad Bureau Advertising Pvt Ltd for alleged incorrect reporting to CIBIL.Original Article

Related posts

‘Destroying evidence’: Rahul Gandhi targets EC again; questions 45-day CCTV footage wipeout; poll body reacts

‘Will never permit’: J&K CM on Indus diversion to Punjab; ally Cong fumes

No one to turn to: Probation gap leaves children in conflict with law in the lurch