MAM
Ramakrishna Prayag joins Kaizzen as Director to strengthen its Senior Leadership Team
MUMBAI: Kaizzen announced the appointment of Ramakrishna Prayag as their Director.
Ramakrishna Prayag, a seasoned communications professional and an industry veteran, brings with him a wealth of experience in the area of Media and Communications. With over 25 years of rich varied experience across sectors, he has been extensively involved in implementing; integrating communications & business development strategies, brand building measures and research for brands like Reputare RIL and some of the leading PR agencies of India.
He has worked extensively in various sectors including aviation, finance, IT, entertainment, sports, infrastructure, health & education and CSR. He has helped brands achieve leadership positioning through innovative and integrated communication strategies.
Speaking on the appointment, Vineet Handa, Founder, Kaizzen said “Rama with his over 25 years’ rich experience, is undoubtedly one of the most seasoned resources in the industry. His valuable contribution in the area of strategy, media relations and crisis communications will add to our existing proficiency and ability to provide best in industry services, to our existing and future relationships. I am confident that Rama, with his experience and expertise, will help us to take Kaizzen’s ambitions forward.”
Commenting on his new role, Ramakrishna said, “I am proud to be associated with Kaizzen and it is indeed a privilege to start this new sojourn with the sagacious guidance of Vineet and the youthful exuberance of his indefatigable team. Kaizzen is a movement in itself and the objective is to lead the movement to its pinnacle.”
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.
