Brands
Akasa Air co-founder Praveen Iyer steps down, Anand Srinivasan to lead
Airline shakes up top team as Iyer exits and leadership reshuffles take flight
MUMBAI: Akasa Air has announced that co-founder and chief commercial officer Praveen Iyer is set to resign, marking another shake-up at the fast-growing carrier. Iyer, part of the founding team that launched flights in August 2022, will work closely with the leadership team to ensure a smooth transition until 30 April 2026.
Following his departure, co-founder and chief information officer Anand Srinivasan will take over as chief commercial officer, while the airline’s IT function will now report to chief financial officer Ankur Goel.
Iyer’s exit adds to a string of senior-level departures at Akasa over the past nine months. In October 2025, co-founder and senior vice president for International Operations Neelu Khatri stepped down. Other key exits in the latter half of 2025 included Rishabh Dev, head of long-term operations, strategy, excellence and planning; Anmol Mane, vice president – aircraft acquisition and leasing; and Vineet Mishra, deputy general manager for catering.
Despite the revolving door at the top, Akasa Air continues to push ahead, navigating turbulence with new appointments and leadership reshuffles aimed at keeping the airline on a steady flight path.
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.
