MAM
TI Cycles enters into licensing tie-up with Nick
NEW DELHI: Giridhari Mohanty has succeeded Frank Noronha as DAVP director-general.
Noronha has moved to the Press Information Bureau as Director General. Both officers are from the 1982 batch of the Indian Information Service.
Mohanty, who takes charge of the Directorate of Advertising and Visual Publicity (DAVP), was in All India Radio news as director general, a post he held since July 2010. Since September 2011, Mohanty was also a member of the Advisory Group on Media and Human Rights established by the National Human Rights Commission.
Coming a year before the General Elections, the DAVP post becomes significant as the Government will use all the resources at its command to send out advertisements to news media about the government’s achievements, particularly in the programmes related to the rural areas. Mohanty’s experience in AIR will come in useful in this regard.
DAVP currently sends out ads worth more than Rs 7.50 billion every year. Some of the autonomous bodies also route their advertisements through DAVP.
Noronha, who was appointed Director General of DAVP in 2009, told indiantelevision.com that the transfer was normal since he had completed four years in DAVP.
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
