Servicing customers of products when company goes bankrupt

Videocon as a company is under NCLT and several of its businesses are being liquidated. If you have videocon products or dth connection and have tried to get service, you know the experience.

BIS must set service standards for aftersales service such that before any company goes under, if they have sold products to customers and have warranty service liability, those liabilities are fulfilled and a set amount of fund is kept for the same.

way too many times, one buys a product and the company and its service infrastructure and support dies.

BIS - any comments? more  

View all 8 comments Below 8 comments
Now a days more and more companies are bankrupt. Customers are suffering a lot. Customers are always ion receiving end. more  
Do such services fall under the jurisdiction of BIS or the regulator is TRAI ? more  
I agree with Raja Aggarwal more  
i don't know what people are expecting out of BIS. BIS lays down the standards of an article. If a company has defaulted on loans, gone bankrupt and therefore cannot service the customers. The BIS cannot do anything. you have remedy in Consumer ACT for deficiency in service but if there is a bankrupt company, what good shall you achieve fighting them in consumer court. still you have a legal remedy through Consumer court, that is if you wish to pursue. honest advice - much easier is to get the article repaired in the market and much cheaper than pursuing a complaint to authorities or courts. more  
It may be very difficult to identify the defaulters of services when we choose them. But they have a social responsibility to honor their commitments. Any default not honored must be made to pay even if they have to coerce the service provider by legal means. more  
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