MAM
Maruti Suzuki collaborates with Saraswat Co-operative Bank for retail car financing
MUMBAI: Maruti Suzuki India Ltd (MSIL), announced the signing of a MoU (memorandum of understanding) with Saraswat Co-operative Bank Ltd (Saraswat Bank). Under this collaboration, the latter will provide customised auto retail financing solutions for customers. With this tie-up, MSIL aims to help dealer partners offer comprehensive retail financing solutions to its customers.
The MoU was signed in the presence of Allied Business senior executive officer of marketing & sales Partho Banerjee, executive officer of marketing & sales Bhuvan Dheer, vice president Kamal Mahtta and Maruti Suzuki Finance & Driving School from Maruti Suzuki general manager Vishal Sharma and Saraswat Bank chairman Gautam E Thakur, chief business officer Priyam Alok, MD & CEO Arti Patil, director Laxman Samant and director Kiran Umrootkar and other senior officials from both organisations.
MSIL senior executive officer of marketing & sales Partho Banerjee said, “At Maruti Suzuki, customers remain at the heart of everything we do. Our partnership with Saraswat Bank is a step forward in providing our customers with easy, flexible, and personalized financing options that cater to their needs. By leveraging the collaboration with Saraswat Bank, we will ensure that customers can access tailored financing solutions, making the process of owning a Maruti Suzuki vehicle all the more convenient. This initiative also reaffirms our commitment to constantly widen our gamut of offerings to our customers, aligning perfectly with our vision of spreading the joy of mobility for all.”
Saraswat co-operative Bank chairman Gautam E Thakur said, “We are glad to have Maruti Suzuki as our partner for offering car financing solutions. This association will ensure that customers have very competitive terms and best possible services, which shall benefit them immensely.”
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.
