<p>A bill seeking to set up a regulatory authority having powers to recall products and cancel licences of defaulting companies, including e-tailers, was introduced in Lok Sabha on Monday.<br /><br /></p>.<p>The new bill seeks to create a Consumer Protection Authority which will also have the power to initiate class suit against defaulting companies. It will fast-track the redressal of consumer grievances. Consumer Affairs Minister tabled the Consumer Protection Bill 2015, which seeks to replace a 29-year-old law and fast-track the redressal of consumer grievances, amid uproar by the Congress members over Lalit Modi and Vyapam issues. The proposed law assumes importance as there is growing concern over safety of consumer products and services especially after the Maggi controversy.<br /><br /> The new bill, approved by the Cabinet on July 28, provides for a comprehensive framework for protection of consumer interest and will replace the Consumer Protection Act, 1986.<br /></p>
<p>A bill seeking to set up a regulatory authority having powers to recall products and cancel licences of defaulting companies, including e-tailers, was introduced in Lok Sabha on Monday.<br /><br /></p>.<p>The new bill seeks to create a Consumer Protection Authority which will also have the power to initiate class suit against defaulting companies. It will fast-track the redressal of consumer grievances. Consumer Affairs Minister tabled the Consumer Protection Bill 2015, which seeks to replace a 29-year-old law and fast-track the redressal of consumer grievances, amid uproar by the Congress members over Lalit Modi and Vyapam issues. The proposed law assumes importance as there is growing concern over safety of consumer products and services especially after the Maggi controversy.<br /><br /> The new bill, approved by the Cabinet on July 28, provides for a comprehensive framework for protection of consumer interest and will replace the Consumer Protection Act, 1986.<br /></p>