💨 Abstract

The Supreme Court has ruled that a borrower cannot be considered a consumer under the Consumer Protection Act if the loan was taken for a profit-generating activity, as in the case of the Ad Bureau Advertising Pvt Limited, which took a loan for post-production of a movie. The court's decision was based on the close nexus between the transaction and the profit-generating activity, with the dominant purpose being to generate profits.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖