Monday, September 12, 2022

ISI Mark Mandatory in LPG Cylinder


Check ISI mark on your LPG Cylinder while buying it. If it does not bear the mark or has a fake mark, you can lodge a #complaint against the manufacturer on the BIS care app or drop your query at complaints@bis.gov.in

Monday, May 2, 2022

Sale and use of wireless jammers are prohibited for general consumption

Central Consumer Protection Authority issues Advisory to e-commerce entities against illegal sale and facilitation of wireless jammers

The sale and use of wireless jammers are prohibited for general consumption and its facilitation by e-commerce platforms shall be viewed as an illegal activity and violation of consumer rights

Source : https://pib.gov.in/PressReleasePage.aspx?PRID=1821641

Sunday, March 6, 2022

Correction in Birth Certificate

W.A. 670/16 and C.M.P No: 8785 of 2016

The Commissioner vs S.K.Syed Rafiullah


If it is proved to the satisfaction of the Registrar that any entry of a

birth or death in any register kept by him under the Act is erroneous in

form or substance, or has been fraudulently or improperly made, he may,

subject to such rules as may be made by the State Government with

respect to the conditions on which and the circumstances in which such

entries may be corrected or canceled, correct the error or cancel the entry

by the suitable entry in the margin, without any alternation of the original

entry, and shall sign the marginal entry and add thereto the date of the

correction or cancellation. 

 

The above section provides the procedure to be followed by the Registrar on such an application being made. He is vested with the power to correct the error or cancel the entry by suitable entry in the margin, without any alternation of the original entry, and shall sign the marginal entry and add thereto the date of the correction or cancellation. It does not necessarily mean that the entry cannot be made by way of alteration. What is contemplated is that in the place of entries being made, on the satisfaction of the Registrar, he can only make a marginal entry and not alter the original entry.

Sunday, August 8, 2021

Iphone Theft Case : Apple Paid to the Consumer

Apple failed to disclose the Insurance Company name

although complainant paid towards MA Apple Total (Protection Plan)

Orissa (Cuttack)Consumer Court directed

to pay the cost of the mobile set Rs.54,700/ besides,

to pay Rs.15,000/- (Fifteen Thousand) as compensation and a sum of Rs.5,000/- (Five Thousand)

towards the cost of litigation to the Complainant.


APPLE INDIA PRIVATE LIMITED Versus HARISH CHANDRA

MOHANTY & ANR.


Friday, May 7, 2021

Nostro & Vostro Account

WORD ORIGIN Latin word:  A Vostro account is an account that a domestic bank holds for another foreign bank in the domestic bank's currency.  "Vostro" is from the Latin "Voster", meaning "your" Nostro meaning “Ours”. Ad valorem is an adjective that describes a tax charged at the estimated value of the goods being charged, and is the Latin for "according to value".

 

A Nostro account is used when one bank has money deposited in an account opened with another bank to execute international transactions.

 

Vostro Account refers to an account held by a foreign-based bank in the domestic currency with the domestic bank of the country

 

As both banks keep records of the amount of money deposited in the account, this leads to two mirroring sets of ledger known as the Nostro and Vostro account.

 

Example:

 

Suppose City Bank (USA based bank) opens an account in SBI BANK (India based bank) with the Currency INR (Indian Rupee), then this type of accounts is called Vostro Account.

Conclusion:

 

Thus single conclusion can be drawn from the above definitions of both Nostro and Vostro accounts.

 

If SBI bank opens a bank account in City Bank, it will be a Nostro Account for SBI Bank and from the City Bank’s point of view, it would be a Vostro Account.

 

Source: https://www.thesisbusiness.com/

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