Legal Question in Business Law in India

Hi, My company has a tie up with a US based company for employee reward and recognition. As part of the program, I had ordered third party gift vouchers on 21 Aug 2013. The top few gift vouchers had an expiry of June 2013. Couple of days back when I intended to use them, I see there are Dec 2012 expiring coupons stacked in between. As per the RBI guideline http://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1902
9.1 All prepaid payment instrument issued in the country shall have a minimum validity period of six months from the date of activation/issuance to the holder.
Clearly the Dec 2012 coupons recieved in Aug donot follow this. On approaching Edenred I was informed that the vouchers were issued to the US company in May and hence they have followed the guideline. However the US company issued the coupons to me in Aug. When I checked with the US company, they say they guarantee only 6 weeks validity. Is this US company bound by the RBI guideline when servicing Indian customers?

Asked on 2/18/13, 9:02 pm

3 Answers from Attorneys

Sanjay Kalra Sanjay Kalra & Associates

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Your question has inadequate information for any good lawyer to advice you. The foreign company has a tie up with your company so there fore the foreign company is not regulated by the RBI but American laws............Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.

Answered on 2/19/13, 2:51 am

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