MAM
Vaishnavi promoter Nira Radia floats new airline ‘magicair
MUMBAI: Nira Radia, promoter of Vaishanavi Corporate Communications, has announced the launch of a scheduled domestic carrier in India. Newly floated company Magic Airlines Pvt. Ltd has filed an application with the Ministry of Civil Aviation for obtaining a ‘no objection certificate’ (NOC) to operate ‘magicair’.
According to an official release the proposition is for a no-frills domestic airline that will commence operations by the winter of 2005 and promises to provide domestic travelers with value offering of world-class standards.
Once magicair does take off it will have already flying no frills carrier Deccan Air as its main competitor.
Starting operations with 10 aircraft in the first year, magicair will have a pan-India presence, connecting all major metros and mini metros and key holiday destinations.
Nira Radia is a seasoned professional in the aviation industry. The management team at ‘magicair’ comprises of some of the most experienced and recognized names in the airline industry. The team includes:
– Capt. Roland Thomas: VP – Flight Operations
– Murugesu Samynathan: VP – Commercial
– Subramaniam Munusamy: VP – Finance
– Rajiv Mohan: Director – Corporate Affairs
– Sani Bin Abdullah: VP – Engineering & Project Coordinator
– Suppiah Subramaniam: Financial Advisor.
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.
