MAM
SBI General Insurance appoints Kishore Kumar Poludasu as managing director & chief executive officer
Mumbai: SBI General Insurance has announced the appointment of Kishore Kumar Poludasu as its new managing director & chief executive officer. He was nominated by the parent company, State Bank of India, for the position and has been appointed w.e.f 4 October 2022.
Kishore Kumar Poludasu has been associated with the State Bank of India since 1991 and held several positions with the bank during his tenure. Prior to his current role at SBI General under State Bank Group, he was the deputy managing director, as the country head of State Bank of India, Singapore Operations.
Poludasu is a seasoned BFSI professional with over three decades of experience in commercial banking, including large corporate/infrastructure credit, international banking operations, enterprise management, mergers & consolidation, etc. He has a strong track record of delivering long-term results, emphasising the organisation’s customer-centric culture, and providing value to customers at every touchpoint. The company is today poised for greater growth, and at this juncture, SBI General is vehemently driving focus on assertive strategies, agile processes, strategic partnerships, and right talent management. Poludasu’s experience will be of immense value to this roadmap towards the top.
Prior to joining SBI General, at State Bank of India, he had been involved in key projects and responsibilities which consisted of planning and strategic execution for expansion, driving sales and growth for the bank. Poludasu has also been instrumental in supervising the integration of systems, processes, and human resources during the merger between State Bank of Mysore and SBI. As an officer on special duty (OSD) from the State Bank of India, he was involved in the establishment of the National Bank for Financing Infrastructure and Development (NaBFID), an All India Financial Institution (AIFI), for increased focus on financing and development of India’s infrastructure industry.
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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.
