New Delhi, Nov 30: The passage of a bill which seeks to set up a regulatory authority having powers to recall products, cancel licences of defaulting companies and initiate class action suit, is set to be delayed with the Parliamentary panel examining it being given extension till Budget session next year.
The Parliamentary Committee on Food, Consumer Affairs and Public Distribution has been given extension to submit its report on the Consumer Protection Bill, 2015 “upto the first week of Budget Session of Parliament, 2016,” a Rajya Sabha bulletin issued on Thursday said.
A class action is a type of lawsuit in which one or several persons can sue on behalf of a larger group of persons. Under the existing law, affected consumers separately approach the authorities seeking redress of grievances. The new legislation would ensure prompt action against errant companies.
The Bill was referred to the Committee on August 25.
