Supreme Court of India
Punjab University v. Unit Trust of India & Ors
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What the Court ordered
We hold that the National Commission correctly held that the University would come within the purview of "consumer" as defined in Section 2(1 )(d) of the 294 SUPREME COURT REPORTS [2014] 8 S,C.R. A said Act and correctly dismissed the claim of the complainants on merits.
Judgment, page 21
From the headnote
CONSUMER PROTECTION ACT.,11986: c s. 2(1) (d) (i) and (ii) -- "Consumer" - "Commercial purpose" -- Universities making investment in "Institutional Investors Special Fund Unit Scheme, 1998" (llSFUS-98) /floated by Unit Trust of India (UT/) - Complaints by : Universities before National Commission that maturity 0 proceeds were far less than that was stipulated 1! Mainta/nability of -- Held: .The term "commercial purpose" must be interpreted considering the facts and circumstances of each case - The words 'commercial purposes' .would cover 'an undertaking the object of which is to make profit
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