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Ronak (Trainee)     13 January 2011

consumer forum

Hi,

Is  unitholder of a mutual fund be considered as a "consumer" under the Consumer protection act, 1986? Plz Giude...

Rgds, Ronak



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 3 Replies


(Guest)

Yes, he is a consumer under CP Act.

Ronak

Ronak (Trainee)     13 January 2011

Dear Sir,

Can u help me out with the supporting case laws. As the last line of the definition excludes a person who avails services for any commercial purpose.

Rgds,

Ronak

Chandeep Singh

Chandeep Singh (Final Semester student)     13 December 2011

 

 

Read explanation attached to Section 2(d) of CPA 1986. In your case, unit holder of Mutual Fund is a Consumer. As per me. Go ahed file a suit. 

[Explanation.-For the purposes of sub-clause (i), "commercial purpose" does not include 

use by a consumer of goods bought and used by him exclusively for the purpose of earning his 

livelihood, by means of self-employment;]


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