MAM
Imax continues strong growth in india by expanding partnership with Inox leisure ltd
MUMBAI: IMAX Corporation (NYSE: IMAX) and INOX Leisure Limited (INOX) today announced an agreement to open two new IMAX® theatres to India, expanding their partnership to twelve open or planned theatres nationwide. IMAX and INOX first entered their fast-growing partnership in 2016. One of the new theatres will open as the first IMAX location in Lucknow and the other city is yet to be announced. Additional terms of the deal were not disclosed.
The new agreement highlights the rapid growth of IMAX in India, one of the company’s fastest growing major markets. IMAX has nearly tripled its theatre network in India over the last three years, from 15 open or contracted theatres in 2016 to 42 today. Through the first half of 2019, IMAX theatres have generated more than $7.76 million at the box office in India, up 18% over the first half of 2018. Earlier this month IMAX announced that it would debut Saaho, T-Series and UV-Creations’ highly anticipated action film, in IMAX theatres in India and select international markets beginning August 30, 2019.
“An IMAX theatre, with its advanced screen, sound and projection technology, offers a fantastic experience making the audience feel as if they are a part of the movie,” said Alok Tandon, Chief Executive Officer of INOX Leisure Ltd. “It’s stunning architecture adds to the joy of watching a movie inside an IMAX theatre. We are excited to take The IMAX Experience® to more and more customers in newer markets with the signing of this deal. We are committed to make the right moves in the technology space to offer the best to our patrons and this deal strengthens our commitment.”
“India has one of the most longstanding and vibrant cinema cultures in the world, and we will continue to bring the biggest blockbusters and events to its passionate audiences,” said Giovanni Dolci, IMAX’s Interim Head of Global Sales. “We are grateful to INOX for our growing partnership and the opportunity to make The IMAX Experience available across key markets throughout the country.”
With the country’s slate of local language and Hollywood blockbusters, the India market continues to demonstrate strong demand for The IMAX Experience®. IMAX theatres are now currently in operation in multiple cities across the country including Delhi, Mumbai, Bangalore, Chennai, Gurugram and Noida, with more markets still to come. This year’s Avengers: Endgame smashed opening weekend box office for IMAX and stands as the company’s top grossing release of all time in India.
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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.
