MAM
Sahara in Rs 400 mn sponsorship deal with Hockey India
MUMBAI: Business conglomerate Sahara India, which has interests in finance, real estate and media, has renewed its sponsorship deal with Hockey India, the governing body of hockey in India, for five years running through to 2017.
While the exact sponsorship fee was not revealed, Sahara has said that the sponsorship amount is 170 per cent higher than what it was forking out currently.
HI was getting Rs 30 million annually in sponsorship fee since 2009, which works out to roughly Rs 80 million for the current deal. Sahara‘s total payout for the five-year cycle will work out to Rs 400 million.
The development comes in the wake of Sahara pulling out of the Indian cricket team‘s sponsorship as well as IPL franchise Pune Warriors India. While, the company has sent positive signals as far as participating in the IPL is concerned, it has ruled out the possibility of sponsoring the Indian cricket team for which it was paying Rs 33 million per match.
Speaking on renewing hockey sponsorship, Sahara India Pariwar chairman Subroto Roy Sahara said, “It is our national game and we are proud to be associated with this game and are elated to continue our patronage and support for the game. We will achieve greater laurels and success in the sport of hockey in the coming years and Sahara India Pariwar is committed to the development of sport at all levels.”
Sahara has been the official sponsor of the Indian Hockey Team (Senior and Junior Hockey Teams) since 2003. The company had also joined hands with hockey‘s world governing body Federation Internationale De Hockey (FIH) in 2004 to become the fourth global Partner of the federation for a period of three years.
In addition to this hockey, Sahara has adopted Indian Boxing, Wrestling, Archery, Shooting, Track & Field and Tennis covering support of a total of 95 sportsmen in these six games who are potential medal winners, until after London Olympics 2012.
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.
