https://www.taxtmi.com/caselaws?id=103053 A prospective investor applying for rights shares before allotment is not a consumer, because no purchase of goods or hiring of services for consideration occurs at that stage. Shares before allotment were treated as neither goods nor services, and the process of raising capital through a rights issue was held not to amount to trade or a trade practice. As a result, allegations of deficiency in service and restrictive or unfair trade practice could not be sustained, and the Commission held that it lacked jurisdiction to proceed with the compensation claim, which was therefore not maintainable in law. en-us Thu, 01 Feb 1996 00:00:00 +0530 Thu, 15 Feb 2018 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103053 A prospective investor applying for rights shares before allotment is not a consumer, because no purchase of goods or hiring of services for consideration occurs at that stage. Shares before allotment were treated as neither goods nor services, and the process of raising capital through a rights issue was held not to amount to trade or a trade practice. As a result, allegations of deficiency in service and restrictive or unfair trade practice could not be sustained, and the Commission held that it lacked jurisdiction to proceed with the compensation claim, which was therefore not maintainable in law. Case-Laws Companies Law Thu, 01 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103053