Consumer Protection

Consumer Protection Act, 1986

— Ss. 9, 11, 17 & 21 — National Commission, State Commission and District Forum — Nature and scope of functions of — Held, they are remedial agencies and their functions are quasi-judicial — Their purpose is to decide consumer disputes, (2006) 5 SCC 727-A

Consumer Protection

Consumer Protection Act, 1986

— Ss. 2(1)(o), (d)(ii) and (g) — Banks — Non-sovereign functions of statutory bodies come under the term <169>service<170> under S. 2(1)(o) — Customers to whom services are rendered by the banks are consumers within the meaning of S. 2(1)(d)(ii), (2006) 5 SCC 727-B

Banker and Customer

Deposit

— Refund — U.S. dollars deposited in Foreign Currency Non-Resident account by non-resident Indian while staying abroad — Refund of, in India — Quantification of the refundable amount in Indian currency — Held, besides examining the rate of exchange after selecting the appropriate date out of the five competing dates as stated in Forasol case, 1984 Supp SCC 263, the economic situation of the country and the economic implications involved in the encashment of dollar denominated deposits should also be kept in mind — Further held, the burden is on the complainant to show the rate of exchange prevalent on the said dates, (2006) 5 SCC 727-C

Consumer Protection

Consumer Protection Act, 1986

— Ss. 14(1)(d), 18 and 22(1) — Relief — Interest — Rate of — Refund of deposit — Delay in, by bank — Award of interest @ 18% p.m., held, excessive — Matter remitted for fresh decision, (2006) 5 SCC 727-D