MAM
TPV Technology appoints Sajeev Rajasekharan as MD of Philips AVA & soundbar business in India
Mumbai: TPV Technology, the world’s leading global manufacturer of monitors, with a market share of around 30 per cent, announced the appointment of Sajeev Rajasekharan as the new managing director of Philips AVA & Soundbar Business in India. Sajeev brings over 30 years of experience in the automotive and consumer durables industries and has an impressive track record in his previous roles.
This move comes in line with the company’s goal to meet local market demands and ensure the availability of its innovative portfolio of AVA & Soundbars.
Before joining TPV Technology, Sajeev was associated with Harley-Davidson as the managing director – Asia Emerging Markets & India. He has a trustworthy track record of managing large-scale operations with expertise in business turnaround and driving significant growth. Before joining Harley-Davidson, he worked with Suzuki Motorcycle India Private Ltd as the Executive Vice President. Beyond the automotive space, Sajeev has over 2 decades of experience in consumer durables industries with brands such as Samsung and Panasonic.
At TPV Technology, Sajeev now steps into a pivotal role as the managing director of the Philips AVA & Soundbar Business in India.
Expressing his enthusiasm for the new role, Sajeev Rajasekharan, managing director – Philips AVA & Soundbar Business- India, TPV Technology, said, “I am thrilled to embark on this journey with TPV Technology. Drawing from my extensive background in consumer durables and the automotive industries, I look forward to spearheading the transformative growth and innovation in the Philips AVA & Soundbar segment. I aim to build on the company’s strong foundation and steer it towards newer heights of success in the Indian market.”
Speaking on the appointment, TPV Technology head of global AVA business Grace Sun said, “We are thrilled to have Sajeev Rajasekharan as the new Managing Director of our Philips AVA & Soundbar Business in India. With over 30 years of remarkable experience in consumer durables and the automotive industry, Sajeev has a proven track record in managing large-scale operations and driving growth. His leadership and strategic vision will be invaluable as we innovate and expand our presence in the Indian Market”.
With his MBA in marketing from Pune University and a career marked by outstanding achievements, Sajeev Rajasekharan stands poised to lead Philips AVA & Soundbar Business in TPV India to attain new milestones.
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.
