https://www.taxtmi.com/caselaws?id=102495 A prospective investor in an unallotted mutual fund issue is not a consumer under the Consumer Protection Act, 1986 because no completed purchase or hiring of services has occurred. Issue of shares or units is capital formation, not trading in shares for purposes of the Act. A Consumer Forum therefore lacks jurisdiction to restrain a public issue or grant interim or ad interim relief in such a matter. Section 14 is limited to final statutory remedies after adjudication, such as refund, replacement, defect removal or compensation, and does not authorise interim injunctions. Ex parte restraints in capital market matters require strict scrutiny, promptness, good faith and recorded reasons. en-us Fri, 20 May 1994 00:00:00 +0530 Sat, 02 Aug 2014 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102495 A prospective investor in an unallotted mutual fund issue is not a consumer under the Consumer Protection Act, 1986 because no completed purchase or hiring of services has occurred. Issue of shares or units is capital formation, not trading in shares for purposes of the Act. A Consumer Forum therefore lacks jurisdiction to restrain a public issue or grant interim or ad interim relief in such a matter. Section 14 is limited to final statutory remedies after adjudication, such as refund, replacement, defect removal or compensation, and does not authorise interim injunctions. Ex parte restraints in capital market matters require strict scrutiny, promptness, good faith and recorded reasons. Case-Laws Companies Law Fri, 20 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102495