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What is a class action suit?
What is a class action suit. So that\'s how the trade is going to change. So under these circumstances we need a very powerful and efficient (consumer) fora,\" he said, while addressing the national conference on effective functioning of Consumer Fora.
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In order to protect consumers, Finance Minister Arun Jaitley said recently that the consumers need to be given powers to file class action suits against errant sellers, and consumer forums should be strengthened in the wake of growing ecommerce trade. "As we pass by, the volume of trade in ecommerce is going to increase...
So that's how the trade is going to change. So under these circumstances we need a very powerful and efficient (consumer) fora," he said, while addressing the national conference on effective functioning of Consumer Fora.
With increase in consumer spending in view of Indian economy transforming in past 20 years, he said, the Consumer Protection Act, 1986, needs to be taken to the "next stage", giving powers to consumers to file Class Action suits.
Jaitley also said although the concept of Class Action suit was there in the Act, it was never used. Such suits can be filed by a group of people when there is a class or category of goods which is defective and a very large number of people have been deceived by it. "Globally the best practice is you allow a class action in these cases.
You also have to regulate the extent of reviews and appeals and the grounds on which multiple appeals can be filed," Jaitley said. The Consumer Act provides for better protection of consumers interest. Under the law, consumer forums have been set up for the settlement of disputes.
A class action is a type of lawsuit in which one or several persons sue on behalf of a larger group of persons, referred to as "the class." While the subject matter of class action lawsuits can vary widely, two factors are almost always present for every class action, according to www.lieffcabraser.com.
They are: 1 the issues in dispute are common to all members of the class, and 2. the persons affected are so numerous as to make it impracticable to bring them all before the court. The class action suit gained its momentum with Satyam case.
Lakhs of shareholders of Satyam Computer Services came together and sued the company. They went from the National Consumer Disputes Redressal Commission to the Supreme Court, and had their claims rejected.
