Brands
ASCI releases guidelines on award referencing in ads
MUMBAI: The Advertisement Standards Council of India (ASCI) has introduced guidelines for usage of awards/rankings in advertisements effective 1 February 2020.
According to a press release, “Consumers are sometimes misled into believing that an award or ranking which is given to a brand, product, institute or service makes it superior and /or more authentic.”
To ensure that their claims are not misleading, the guidelines will lend assistance to advertisers for the appropriate usage of reference to awards or rankings in advertising, the release said.
It will also assist the advertiser to understand the rigour required for claim substantiation and pitfalls to avoid so that their claims pass the muster with ASCI’s Consumer Complaints Council (CCC).
The council urged brands and services to ensure that the accrediting bodies involved in disseminating or presenting awards or rankings are authentic and credible to validate their claims in advertisements.
Moreover, the guidelines are also applicable to all advertisers and would particularly be relevant for healthcare services and the educational sector which tends to use such superiority or leadership claims.
In this regard, ASCI chairman Rohit Gupta said, “Claims such as ranking first in the state or in India, receiving an award for being the most trusted or award of excellence, listed in some book of world records etc. makes consumers believe that the product/service is recognized and trustworthy, whereas in some cases this may not be true.”
He added, “The guidelines are a step towards ensuring that advertisers are cognizant of the serious impact of deceptive advertising and hence make responsible claims when referring to awards and rankings in their advertisements.”
The council said, prospective students and parents easily fall prey to awards/ranking claims by institutes and coaching classes as they rely blindly on such claims. It added that a wrong choice directly impacts the quality of education and the future of children and has a financial implication.
Citing an example of the health services sector, the council said, misleading claims about rankings and awards lure patients in choosing the service provider and could hamper patient health, quality of care received and result in financial losses.
Brands
Aditya Birla Fashion & Retail reshuffles top deck; Nikhil Modha to take over as CFO
Phased transition sees Marco Agnolin head OWND!, Nikhil Modha lined up as CFO as company readies next growth leg
MUMBAI: Aditya Birla Fashion & Retail is redrawing its leadership map, lining up a new generation of executives across key roles as it prepares for its next phase of growth.
The company has named Suraj Bahirwani as chief executive (designate) of Pantaloons, effective April 1, 2026, with a full transition to the top role slated for October 1, 2026. He will also be designated as senior managerial personnel.
A two-decade veteran of the Aditya Birla Group, Bahirwani joined as a group management trainee in 2002 and has since held a string of leadership roles across retail and manufacturing. His resume spans stints at Aditya Birla Retail, a tenure as chief operating officer of Pantaloons, and most recently, head of global sales at the group’s cellulosic fibres business, where he drove international expansion and strengthened value-added portfolios.
Academically, he holds a PhD from the University of Mumbai, a postgraduate management diploma from SP Jain Institute of Management and Research, and is a chartered accountant. Over the years, he has picked up multiple chairman’s awards, including distinguished achiever, exceptional contributor and accomplished leader.
The transition at Pantaloons will be staged. Incumbent chief executive Sangeeta Tanwani will continue until September 30, 2026, steering the handover before moving into an advisory role to the managing director from October 1, 2026. She is set to retire on January 31, 2027, at which point she will step down as whole-time director and key managerial personnel.
Alongside, the company has brought in Marco Agnolin as chief executive of OWND! and senior managerial personnel, effective April 6, 2026. Agnolin arrives with over three decades of global experience, having held senior roles at Inditex, where he helped expand Zara in Italy, and later served as chief executive of Bershka and Diesel. His track record spans fast fashion, brand turnarounds and youth-focused retail.
On the finance side, Nikhil Modha has been appointed chief financial officer (designate) and senior managerial personnel from April 1, 2026. He will assume full charge as chief financial officer and key managerial personnel from January 1, 2027.
Current chief financial officer Jagdish Bajaj will oversee a phased transition until December 31, 2026, before retiring and stepping down from his roles.
The reshuffle signals a calibrated succession plan rather than a sudden overhaul, with the company staggering exits and appointments to ensure continuity even as it refreshes leadership across verticals.
As Aditya Birla Fashion & Retail juggles legacy brands and new-age formats, the message is clear: steady hands for the present, sharper ones for the future—and no pause in the push for scale.
