MAM
Initiative Media’s Virender Singh Rana joins India Gate rice maker KRBL India
MUMBAI :India Gate basmati rice maker KRBL has a new media custodian getting on board. Virender Singh Rana has joined the world’s largest rice millers and basmati rice exporter as assistant general manager – media and brand experience.
A commerce graduate, Virender has got most of his savvy media learnings over the years on the job. He spent the first eight years of his career at media concessionaire Avcom Media learning the tricks of the media buying trade . He followed that up with a good 10 years at Initiative Media getting deep insights into media strategy, media planning, buying, campaign management for clients operating in various categories right from FMCG to e-commerce to healthcare, to lifestyle. He climbed up the ranks to become associate business director- investment.
And that’s where he was identified as the media professional who could help KRBL as it “charts new paths with an expanding product portfolio. Virender’s strategic vision and expertise in media strategy and market analytics will play a pivotal role crafting transformative media and brand experiences and deepening connections with the company’s consumers.”
Brands
Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
