MAM
Chemmanur Jewellers plans Rs.1 bn spend on 30 new outlets
BANGALORE: The Rs. 4 billion Chemmanur group announced the opening of its fifth and sixth Karnataka jewellery retail outlets in Haskote near Bangalore. Chemmanur is already present at 15 different retails outlets world wide including Bangalore, Mangalore, Bhatkal, Marathahalli in Karnataka, in the middle east at Dubai, Abu Dhabi and Bahrain, besides three outlets at Kerala and five at Tamil Nadu.
The group envisages Rs. 1 billion investments in Gold, silver and Diamond retail showrooms within two years with the opening of 15 New Showrooms in and around Bangalore within this financial year and another 15 new mini-showrooms in select and different cities and towns of Karnataka having a population of more than one hundred thousand. Each outlet in an around Bangalore would entail an investment of approximately Rs.30 to 40 million.
An official release says, the support of financial institutions like Catholic Syrian Bank, Corporation Bank, Bank of India and Vijay Bank complemented by the growth of retail and financial customers and well-wishers are the motivation factors for the ambitious expansion plans.
For the new showrooms local candidates, both male and female, would be preferred and extensive training is imparted to them at Bangalore. Professional training is provided by the Chemmanur Gold Academy in the knowledge of Gold, Diamonds and Precious Stones to employees and also to improve their skills in Sales and Customer Satisfaction, the release adds.
The group is also planning to allot equities to the Senior Employees who have served the organization for more than five years.
For meeting temporary financial requirements without liquidating their jewellery, Chemmanur has come with a unique concept by which customers can sell their gold ornaments purchased from anywhere around the world to Chemmanur outlets and avail of cash. This purchased gold is not melted but is retained in the same form in the safe custody of a bank locker. The customer has the option of buy back the same gold within the specified period against a nominal charge. This scheme has garnered around Rs.90 million over the last 9 months since it’s inception and Chemmanur is upbeat about the future growth in this ‘Cash against gold’ scheme as Chemmanur terms it.
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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.
