Calcutta Chamber of Commerce: the oldest chamber of commerce in IndiaCalcutta Chamber of Commerce: the oldest chamber of commerce in India

Major Events 2020-21

February 12, 2021
Webinar on Consumer's Access to Speedy and Quality Justice

The Chief Guest is Hon'ble Mr. Rajesh Kumar Agrawal, Former Judge of Supreme Court of India and President, National Consumer Disputes Redressal Commission (NCDRC)
The Guest of Honour is Dr. S.M. Kanatikar, Hon'ble Member, National Consumer Disputes Redressal Commission (NCDRC)

Justce Agrawal remarked that the most important milestones in the consumer movement was the enactment of the Consumer Protection Act, 1986, to better protect the interest of the consumers. However, in Consumer Protection Act, 1986 single point access to justice was given, which is also time consuming. The new Consumer Protection Act, 2019 came into force in India, replacing the previous enactment of 1986.

The new act has been introduced after many amendments to provide protection to buyers not only from traditional sellers but also from the new e-commerce retailers/platforms. He said that this Act will prove a significant tool in protecting consumer rights in the country. As we all know the delay in disposal of cases in Law Courts, for whatever reason it may be, has really defeated the purpose for which the people approach the Courts to their redressal. Justice delayed is justice denied

While summarizing the Consumer Protection Act 2019, Justice Agrawal said that this new Act will empower consumers and help them in protecting their rights through its various notified rules and provisions like Consumer Protection Councils, Consumer Disputes Redressal Commissions, Mediation, Product Liability and punishment for manufacture or sale of products containing adulterant / spurious goods. He said that CCPA will be empowered to conduct investigations into violations of consumer rights and institute complaints / prosecution. The new Act provides for simplifying the consumer dispute adjudication process in the consumer commissions, which include, among others, empowerment of the State and District Commissions to review their own orders, enabling a consumer to file complaints electronically and file complaints in consumer Commissions.

Dr. Kantikar highlighted that the consumer protection has always been a matter of great concern because of prolong litigation in different courts and it discourage the consumers to seeking the legal reports. Therefore the Consumer Protection Act which was passed in India in 1986 providing easy access to the justice and it brought total revolution in India. However, with the gradual advancement of the technology the people at large are getting its cost effective mechanism and the Act got a popular support.

The new Consumer Protection Bill 2019 passed in the Lok Sabha on 30th July 2019 and in the Rajya Sabha on 6th August 2019. We all are aware that the new Bill came into force in 20th July 2020 and it replaces the previous act. Dr. Kantikar also pointed out one of the most important features to this Act that the protection of consumers rights U/s 2 Sub Section 9 which was not in the previous act which includes the right to be protected against the marketing of the goods and products or services which are hazardous to the society, or the life or the property. He also defined the purpose of Central Consumer Protection Act (CCPA) that it is to regulate the matter relating to violation of consumer rights like unfair trade practices or misleading advertisements which are prejudicial to the interest of public at large.

The Consumer Protection Act, 2019 comes into force from 20 July, with its salient features including the establishment of the Central Consumer Protection Authority (CCPA) to promote, protect and enforce the rights of consumers.

February 01 2021
Webinar on Union Budget- 2021-22

The Guest of Honour is Shri S.K. Tulsiyan, Hon'ble Advocate & Tax Consultant

Shri S.K. Tulsiyan said that this year budget is a development-oriented budget and it also addresses the Pandemic effect on the economy and therefore a huge deficit of 9+ GDP has been kept. He pointed out that there is a huge requirement for meeting the demand; the expenditures will create more money in the hands of the citizens thereby leading to the revival of the economy.

His response on the issue of reopening of assessment proposed by the Hon'ble Finance Minister from 6 years to 3 years is a welcome step, but the relevant assessment in the case of search and seizure which used to be reopened for 10 years, this has been kept there subject to the detection of concealment of 50 lac and above. According to him this should have been reduced to 6 years as against 10 years which originally was.

Hon'ble Finance Minister had proposed in the budget that there should be a Dispute Resolution Committee where income up to 50 lac and tax dispute up to10 lac shall be settled by the said Committee on faceless basis and for the small tax payers, this is a welcome step. Regarding ITAT the Budget said that this also has become faceless but in his opinion this is a derogatory step. He said that a tribunal cannot be faceless. Tribunal being a fact finding body, there are needs for interrogation, examination, argument, so it is not like assessment or appeal and therefore it will surely impact the taxpayers and there should be a rethinking on it. He said the extension of affordable housing for middle class people and tax holiday is worthwhile.

January 08, 2021
Webinar on Indian Equity Markets: Where do we go from here ?

The Guest of Honour is Shri Bharat Shah, Executive Director, ASK Group

While describing the nature of the equity investment Shri Bharat Shah said many people assume that volatility of the market is a great risk and therefore the equity investment is actually more risky than the other investments. He explained that if you approach quality investment with a long term mindset and not short term and if you choose quality stocks there is no risk. He further said that equity investment is nothing if it is not business-like and it is only the quality businesses which creates value and it should be in a long term manner. They create value over a reasonable period of time. He assured all present that in the equity investment it is impossible to lose money.

Shri Shah said that volatility of the price or the index is a fact but that is not a source of risk. Markets were volatile 200 years back; markets were volatile 100 years back. Volatility is the instinctive character of the market and there is nothing unusual about it and therefore markets always will be volatile. So volatility is not a threat, it is not an enemy but volatility actually is a friend of us, you should know how to benefit from it. Therefore the real risk is your own mind, your own knowledge, your own ability to value the business, your own discipline, your own understanding of the reality of the market. Once we are able to dominate or control it, there is nothing safer than equity investment.

December 22, 2020
Webinar on Make Choices not Sacrifices

The Guest of Honour is Dr. Kiran Bedi, Hon'ble Lt. Governor, Puducherry

Through the webinar Dr. Kiran Bedi, Hon'ble Governor of Puducherry advised all present that one has to gather various informations from various sources of the media and it is very important to remain update as a citizen of the country.She/he should do workshops on regular basis on different policies announced by the Government of India like economic policy, labour policy, farm policy, financial policy and others and carry out weekly virtual classes of a particular announcement of the policy of the week and contribute her views to the government portal and send letters to the Hon'ble Prime Minister containing views and suggestions. All of us need to be the authorities in our respective fields. If we have to be progressive we will have to be updated in our news and analysis. Women in the business must stay up-to-date with the latest current news, knowledge and information and how she wants to use it that is her choice.

Dr. Bedi further said that every moment she should realize own potential; she should not keep herself under pressure or underestimate herself. If she has to realize her potential she has to work hard and enjoy. She must enjoy in doing whatever she do and that should be her choice or compulsion. Everybody should be self-driven and not slave-driven.


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