MAM
MRSI’s honours Partha Rakshit & Pranesh Mishra with Lifetime Achievement at Golden Key Awards 2023
Mumbai: The Market Research Society of India (MRSI) instituted the Golden Key Awards in 2019 to recognize the contribution of insights for the growth of India’s market research and insights industry. Among the many categories, MRSI each year also recognises the industry’s veterans for their significant contribution. MRSI’s Golden Key Awards 2023 honoured Partha Rakshit and Pranesh Mishra, two of India’s most notable personalities from across the research and insights industry for the Lifetime Achievement Award.
One of India’s most respected market research professionals, Partha Rakshit has over five decades of experience. He currently serves on the Board of the NorthPoint Centre of Learning, wherein he guides their marketing research, media and analytics programs. Rakshit last served as the managing director South Asia at Nielsen, from where he retired in 2010.
Among his many achievements, Rakshit was a key member in the committee that worked on formulating and establishing SEC variables in India. He served as MRSI’s President from 1992-94. He was a founding member of the National Readership Survey Council. He served as a Member of the Board of Governors of the Advertising Standards Council of India (ASCI) during 1996 to 2016 and its President from 2013-2014. Rakshit was recognized for a new method for election forecasts in India which enabled the adoption of much lower sample sizes. Rakshit holds a Master’s degree in Management from the Jamnalal Bajaj Institute of Management Studies, Mumbai.
Pranesh Mishra, the second awardee, is the chairman and managing director at global marketing analytics and insight consulting company Brandscapes Worldwide which he founded in 2008. His 40-plus years’ experience covers strategic leadership roles in marketing, brand development, advertising, and consumer insights across several consumer products and services.
Prior to Brandscapes Worldwide, Mishra was associated with Lowe & Partners, MashreqBank, Pathfinders, among other organizations. Moreover, he led brand and communications strategy development for Fortune 500 brands including Unilever, Visa, Coca-Cola, Johnson & Johnson, and HSBC. A Physics graduate from Delhi University and an MBA from the Indian Institute of Management, Ahmedabad, Mishra is a passionate student of human insights.
The Market Research Society of India extend their gratitude to both Partha Rakshit and Pranesh Mishra for their valuable contribution to the Indian and global research and insights sector.
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.
