MAM
TAM owner WPP speaks up, threatens defamation suit against NDTV
MUMBAI: WPP, the world’s largest communications services group, has threatened to file defamation proceedings against New Delhi Television Ltd (NDTV) for offensive allegations made by the Indian news broadcaster in its lawsuit in the New York Supreme Court.
NDTV has filed the lawsuit alleging gross inaction against manipulation of television ratings in India by TAM Media Research, its parents AC Nielsen Research Services Private Limited and Kantar Market Research Services Private Ltd, and Kantar’s owner WPP, which is listed on the London Stock Exchange and on Nasdaq.
NDTV has sought $810 million as compensation for the loss in revenues it has suffered over the years because of manipulated viewership ratings and $580 million in penalty for negligence by Nielsen and Kantar officials.
“In the light of these circumstances, WPP is also giving active consideration to issuing proceedings against NDTV for defamation and has instructed its lawyers accordingly,” WPP said in a statement on Wednesday.
WPP and its operating companies – Kantar and TAM — are in the process of filing an “immediate application” in the New York court to strike out the law suit, which it has dismissed as “hypothetical”. It said it will also be seeking costs for having to do so.
TAM had so far declined to comment as the matter was in the court.
WPP said, in the light of the media comments following the filing of the NDTV suit, “it feels it is appropriate to comment on the lawsuit.”
WPP pointed out that the lawsuit has not been served on WPP, nor on any of WPP’s operating companies, referred to in the NDTV lawsuit. “In any event, there is no merit, whatsoever, in any of the claims made in the hypothetical Law Suit relating to the WPP Parties, nor do the courts of New York have any jurisdiction to hear any such claims,” the WPP statement said.
Referring to the six-point action plan proposed by TAM last week, WPP said, “As recent developments indicate, TAM is committed to working with the industry to continuously improve the use of technology, coverage and transparency. TAM has taken and continues to take stringent measures to protect the panel against repeated attempts at tampering by currently unknown parties and has recently agreed a series of additional steps with the industry to remove any question marks about the quality and reliability of the TAM data.”
The six steps outlined by TAM include appointment of a security officer and a security agency, expansion in the number of peoplemeters in six top metros, an industry review of the research processes, independent audit of outlier homes, faster rotation of the peoplemeter homes and setting up of an internal audit team.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
