MAM
24 complaints on misleading & surrogate ads
NEW DELHI: A total of 13 complaints against surrogate advertisements and 11 against misleading advertisements on the electronic media have been received in the recent past, Parliament was told.
Meanwhile, the Department of Consumer Affairs is holding a series of consultations and workshops with all stakeholders in different parts of the country to create awareness about this issue.
In 2010-11 and 2011-12, a total of seven and eight complaints respectively were filed about misleading advertisements in the print media, Minister of State for Information and Broadcasting C M Jatua told the Lok Sabha.
Jatua said the Consumer Protection Act 1986 had ample provisions to act against advertisements making false or misleading representation and these had been duly notified as Unfair Trade practices for which a consumer could approach the Consumer Courts.
The Press Council Act and the Journalistic Norms drawn up by the Council, and the Cable TV Networks (Regulation) Act apart from the Advertising Standards Council of India also had powers to deal with such complaints.
In reply to another question, Parliament was informed that a representative of the Department of Consumer Affairs was now represented on the Inter-Ministerial Committee which hears complaints against TV channels.
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.
