Category: Regulators

  • Kofluence onboards Venkata Rao Dhanyamraju as chief financial officer

    Kofluence onboards Venkata Rao Dhanyamraju as chief financial officer

    Mumbai: Kofluence, the world’s largest AI-driven ad-tech influencer marketing platform has appointed Venkata Rao Dhanyamraju as the chief financial officer to lead the company’s financial operations. In his new position, Dhanyamraju will be responsible for managing and optimizing Kofluence’s financial resources, formulating and implementing financial plans, ensuring accurate financial reporting, identifying and reducing financial risks, and offering strategic financial advice to support the organization’s financial performance.

    With over 20 years of experience as a licensed chartered accountant, Dhanyamraju has developed strong foundational skills in people management and leadership, delivering well-built results in strategic roles at executive and C-suite level.  Additionally, he has acquired a significant amount of experience working for a number of different organizations, such as DM Rao and Co. Chartered Accountants, Andhra Pradesh MedTech Zone Limited, Sarath and Associates, Harsco India Services P Ltd, Unisys India Private Limited, and India IRM & IBS Private Limited.

    Commenting on his appointment as the chief financial officer, Dhanyamraju said, “My excitement at joining the vibrant Kofluence team is fueled by the company’s unwavering dedication to expanding and achieving an unrivalled position in this competitive environment. Together, we will turn the company’s mission and vision into reality, paving the way for nothing less than phenomenal growth. Being a member of a team that is poised to leave a lasting impression in the influencer marketing industry encourages me to put forth my best effort.”

    Kofluence co-founder & CEO Ritesh Ujjwal said, “We are thrilled to have Venkata Rao join our esteemed leadership team. His strategic financial knowledge and experience make him a priceless asset in advancing our next stage of growth. I look forward to working closely with him as we begin this exciting chapter of growth and innovation.”

     

  • Jjust Group appoint Shyam Chhabria as CEO joining forces with Jackky Bhagnani

    Jjust Group appoint Shyam Chhabria as CEO joining forces with Jackky Bhagnani

    Mumbai: Jjust Group, a leading music & content company known for its exceptional contributions to the Indian music industry, is thrilled to announce the appointment of Shyam Chhabria as the new chief executive officer (CEO). Chhabria, an experienced industry expert, will join forces with renowned actor and producer Jackky Bhagnani to chart an ambitious path toward building an empire of music and entertainment.

    With a deep passion for music and a wealth of experience in the entertainment industry, Shyam Chhabria is perfectly poised to lead Jjust Group to new heights. As CEO, he will be responsible for overseeing the strategic direction of the group, fostering collaborations with talented artists, and driving innovation in music production and content creation across the different verticals of Jjust Group.

    Chhabria brings with him a remarkable track record of success in the music & content industry, having held influential positions in prominent companies over the years such as Vh1 Supersonic, VIU India, Times Television Network, and Balaji Telefilms & NDTV Media. Recently with Shyam’s array of expertise, Jjust Music has launched four new divisions, namely Jjust Kids, Jjust Live, Jjust Originals, and Jjust Pooja, as part of its expansion plan.

    With an effort in building Jjust Group, is Jackky Bhagnani, a celebrated actor, producer and entrepreneur known for his creative vision and impeccable taste. Bhagnani, who has been associated with Jjust Music since its inception, appoints Chhabria to create a cross-cultural music content empire that resonates with audiences worldwide.

    Commenting on the appointment, Jackky Bhagnani expressed his enthusiasm, stating, “I am thrilled to have Shyam on board as the CEO of Jjust Group. His vast knowledge, industry acumen, and passion for music & content, make him the perfect leader for our organisation. Together, we will create an empire that not only produces exceptional cross-cultural music but also elevates and empowers artists across genres through different content verticals.”

    Shyam Chhabria shared his excitement for the new role, stating, “Joining Jjust Group as CEO is an incredible opportunity, and I am honoured to work alongside Jackky Bhagnani. Together, we share a common vision to build an empire that fosters creativity, nurtures talent, and brings the best of music & content to the world. With our combined expertise and shared passion, we are ready to make a lasting impact on the industry.”

    Jjust Group has consistently garnered immense recognition for its diverse roster of talented artists & various genres. Under the dynamic leadership of Jackky Bhagnani and Shyam Chhabria, Jjust Group is set to expand its horizons, exploring new genres, new content verticals and nurturing emerging talent from around the world.

  • Walt Disney extends contract of CEO Bob Iger for two more years

    Walt Disney extends contract of CEO Bob Iger for two more years

    Mumbai: Walt Disney has extended the contract of CEO Bob Iger for two more years.

    In a statement, the company said Iger will remain on the post till 31 December 2026.

    He joined Disney for his second stint after CEO Bob Chapek was asked to step down. Iger was given the task of improving Disney’s profitability.

    Iger’s first stint with Disney as CEO was in 2005 and he was in that role for 15 years.

  • 360 ONE Asset appoints Aarthi Ramakrishnan as head – strategy for global asset management

    360 ONE Asset appoints Aarthi Ramakrishnan as head – strategy for global asset management

    Mumbai: 360 ONE Asset, a leading alternates-focused asset management firm, which is part of 360 ONE WAM Ltd, has announced the appointment of Aarthi Ramakrishnan as head – strategy for the asset management business. Aarthi will play a pivotal role in enhancing the firm’s focus on global asset management and gift city platforms.

    Aarthi Ramakrishnan brings with her a wealth of experience as a seasoned investment banker and business leader, spanning over 20 years in various global banks and asset platforms. Her most recent position was as the country head for India & Middle East at Kristal.AI, where she played an integral role in establishing the platform as the top choice for customers seeking to build global wealth portfolios. Aarthi’s stints include investment banking roles in renowned global firms such as Merrill Lynch, HSBC, and Credit Suisse. She also served as the managing director & country head for Mizuho’s Investment Bank.

    360 ONE  founder, MD & CEO Karan Bhagat said, “With her diverse experience, strategic thinking and leadership skills, we are confident that Aarthi will be a valuable asset in scaling our global capabilities, delivering innovative solutions, and fortifying our position as a leading player in the alternates-focused asset management industry.”

    360 ONE Asset head – strategy Aarthi Ramakrishnan said, “I am absolutely thrilled to join the dynamic team at 360 ONE Asset. The firm’s reputation for innovation, process-driven approach, and commitment to excellence is truly impressive. I am excited to collaborate with the talented professionals at 360 ONE to develop innovative offerings that will continue to set the industry standard. As a team, we will collaborate to drive the firm’s strategic initiatives forward and deliver exceptional value to our investors.”

    Aarthi Ramakrishnan holds a gold medal from the National Law School, Bangalore, and an MBA from IIM Calcutta. She is an accomplished professional and an active private investor and entrepreneur, having successfully invested in and mentored several early-stage businesses in the financial services space.

  • ITC proposes reappointment of Sanjiv Puri as MD & chairman

    ITC proposes reappointment of Sanjiv Puri as MD & chairman

    Mumbai: As per reports, Indian conglomerate ITC Ltd has proposed convening an annual general meeting to seek shareholder approval for the reappointment of Sanjiv Puri as the managing director and chairman for a second term, effective from 22 July 2024.

    Puri, who joined ITC in 1986, was appointed as a whole-time director on the board of ITC from 6 December 2015, chief executive officer in February 2017 and re-designated as the managing director in May 2018. He was appointed as the chairman effective 13 May 2019.

    He is an alumnus of the Indian Institute of Technology, Kanpur, and the Wharton School of Business, USA.

    A news report citing the company’s AGM notice said that it will also appoint its food business chief executive Hemant Malik as a whole-time director on the board, effective 12 August 2023. With his appointment, the company board will have four whole-time executive directors.

    As per reports, Nakul Anand, Sumant Bhargavan and Supratim Dutta are also on the board.

    The 112th AGM is reportedly scheduled for 11 August.

    ITC’s 112th AGM is scheduled on 11 August. With Malik’s appointment, ITC board will have four whole-time executive directors. His appointment will be effective 12 August 2023, for three years.

  • CleverTap appoints Sidharth Pisharoti as CRO to drive growth across India, META, and Asia Pacific

    CleverTap appoints Sidharth Pisharoti as CRO to drive growth across India, META, and Asia Pacific

    Mumbai: CleverTap, the all-in-one engagement platform, today announced the appointment of Sidharth Pisharoti as the new chief revenue officer. In his new role, Pisharoti will be responsible for driving CleverTap’s growth across India, META, and Asia Pacific regions, as well as designing and executing the company’s go-to-market strategy.

    Pisharoti brings a wealth of experience in the technology and software industries, with a strong focus on revenue generation and driving sales. In his career spanning two decades, Pisharoti has a proven track record of leading sales teams across Asia Pacific, Europe, and LATAM regions. His expertise in business development equips him to accelerate the next phase of CleverTap’s growth journey within these regions.

    CleverTap CEO Sidharth Malik said, “I am thrilled to announce the appointment of Sidharth as our new chief revenue officer (CRO) for the India, META, and APAC regions. His addition will help accelerate our growth and strengthen our presence in these crucial markets. Thanks to the varied demands of a diverse customer base, these regions drive our MarTech innovation even further. Sidharth’s expertise in driving sales and revenue will help us achieve unprecedented levels of growth while delivering localized solutions that meet the distinct needs of the market.”

    Pisharoti said, “I am ecstatic about joining CleverTap. It’s an incredible opportunity to be part of a company scaling at such an exponential pace within the customer engagement domain. CleverTap’s commitment to maximizing a brand’s customer lifetime value aligns perfectly with my personal drive to deliver unparalleled growth and innovation for clients. I am confident that together, we will empower businesses to forge stronger connections with their customers, drive growth and foster long-term success.”

  • Former GoI secretary C.M. Vasudev joins Clix Capital as chairman

    Former GoI secretary C.M. Vasudev joins Clix Capital as chairman

    Mumbai: Clix Capital, co-founded by Pramod Bhasin and Anil Chawla and supported by AION Capital, has announced a new chairman, C.M. Vasudev. Vasudev was formerly the Secretary of the Department of Banking, Expenditure, and Economic Affairs, Ministry of Finance, with the Government of India. Vasudev was appointed as a GOI nominee on the boards of several public-sector financial institutions and the Central Board of RBI. Having chaired the NBFC sector reforms committee, he was also part of the World Bank as an Executive Director for over three years in the past. Vasudev is the former chairman and independent director of HDFC Bank.  Vasudev takes over the chairmanship from Bhasin and is joined on the board by two additional independent directors, Anuradha Bajpai, and Ajay Candade.

    Bajpai comes with over three decades of experience in audit and assurance. She worked with Deloitte, Haskins, and Sells for 17 years, where she led the team responsible for statutory audit and group reporting under IFRS and US GAAP for various NBFCs, including those forming part of the Merrill Lynch Group, the Morgan Stanley Group, and the Caspian Group. Her expertise extends beyond the financial services sector, as she has serviced media companies in India forming part of the WPP Group, companies in the telecom sector, the retail industry, other service industries, and manufacturing companies in the iron and steel sector.

    Candade is currently the managing partner and co-founder of Fractal Growth Partners, a scale-up-focused investor in technology-enabled businesses. In his prior assignments, he worked as a management consultant at McKinsey & Company in New York and Mumbai, an investor with Warburg Pincus, and also with KKR’s private equity team. He has served on and/or been an observer on the boards of several companies, including Alliance Tire, Avendus Capital, Continental Warehousing Corporation Ltd., Euro Kids Group/Lighthouse Learning, Magma Fincorp, Magma Housing Finance, Max India, Max Healthcare, and TVS Supply Chain Solutions. Candade was also a member of the CII National Committee on Logistics.

    “In line with SEBI regulations, Mr. Vasudev will be taking over from me as an independent chairman. The invaluable contribution and support of the new board members will play a crucial role in Clix Capital’s mission to foster credit inclusion among Indian SMEs. We anticipate the unveiling of new growth prospects under their esteemed direction and guidance,” expressed Bhasin.  

    “We are always grateful for the invaluable contributions of our esteemed board members. With the addition of new independent members, we are poised to harness an even greater depth of expertise that will propel Clix Capital towards unparalleled success in its next era of hypergrowth,” said Clix Capital CEO & MD Rakesh Kaul.

    Apollo head of private equity, Utsav Bajilal also commented, “As the business of Clix Capital matures, we are thrilled to invite Mr. Vasudev to chair the Board. We believe onboarding Mrs. Bajpai and Mr. Candade will significantly strengthen the Board. Bringing in experienced professionals to guide the management team will provide the level of oversight needed for a lending franchise.”

  • ‘Zee–Sony merger may finally see the light of the day’: Dolat Capital

    ‘Zee–Sony merger may finally see the light of the day’: Dolat Capital

    Mumbai: Zee-Sony merger may finally see the light of the day, according to a note shared by Dolat Capital.

    Here’s what the note states:

    NCLT concludes hearing, reserves order; hopefully shall be positive

    As per media, NCLT has today concluded the hearing going on since 6m on Zee-Sony matter and has reserved the order. NCLT order shall take one to three weeks’ time. We presume the NCLT order shall be positive since the matter was related to lenders in NCLT. As per Zee management, the company had either settled with lenders or the case was disposed of where Zee was remotely connected.

    No immediate relief for Zee promoters from SAT

    Separately, SAT has rejected the appeal of Zee’s MD & CEO Punit Goenka to stay the SEBI order directing him to cease to hold the position of a director or a KMP in any listed company or its subsidiaries until further orders.

    Merger key positive

    With or without Punit: Positive NCLT order on merger would be key. Merged entity will be under Sony’s control and they may have to look at an alternate MD & CEO instead of Punit, even if temporary. In a recent media interview, Punit confirmed that the merger shall not halt irrespective of the SAT outcome being against him is a respite.

    Process post NCLT approval

    Zee shall get the physical copy of order in 15 days post the order. It would then file with ROC for merger of Zee-Sony. Separately, it would go to SEBI for de-listing of Zee shares and re-listing of the merged entity. Post NCLT approval, the process shall take 2.5-3.5 months

  • Telecom carriers calls Trai paper on OTTs ‘progressive’

    Telecom carriers calls Trai paper on OTTs ‘progressive’

    Mumbai: Telecom carriers have called the regulator’s discussion paper on regulating over-the-top (OTT) players such as WhatsApp, Telegram and Signal, and on selective banning of apps during instances of civil unrest a progressive step and a backing of their concerns.

    Tech sector experts said that they are sceptical about any selective banning and want the government and regulator to ensure such action is not discriminatory.

    Telcos have for long been demanding that communication apps be regulated as they offer similar services without the security and financial obligations attached to licensed telecom operators.

    But OTT players have contended that they are already regulated under the IT Act and more rules would stifle innovation.

    Experts also added that any selective banning or shutting down of OTT apps must not be unjustified as that won’t be in larger public interest.

  • “Sony Marathi strengthens communities with its motto: Vinuya Atut Nati (Let’s Build Unbreakable Bonds)” : Sony Marathi’s Ajay Bhalwankar

    “Sony Marathi strengthens communities with its motto: Vinuya Atut Nati (Let’s Build Unbreakable Bonds)” : Sony Marathi’s Ajay Bhalwankar

    Mumbai: Sony Marathi is in its fifth year and has made a place for itself in this market. A few years back the Marathi audience was divided between Hindi and Marathi content but that has changed now. The urban Sec A+B audiences prefer watching Marathi content.

    The community is very rich in its literature, theatre, and even music. Music has been big and it’s not just film music, it’s also non-film music which has been present since the 60s, 70s, and even in the 50s   it was big. 

    Maharashtrachi HasyaJatra, on Sony Marathi, is a comedy show but it has a lot of literary value to it. It is not a mindless comedy. Mr Bachchan is an ardent fan of the show and has told his grandchildren that if you want to watch Indian (regional) comedy it is Hasya Jatra, which has the true essence of our soil. Our shows are something.

    The shows are conceptualised in such a way that we even love rewatching them. That is one of the lenses that we have and that’s what has made us stand out from the rest of the crowd.

    Indiantelevision.com in a one-on-one chat with Sony Marathi business head Ajay Bhalwankar – spoke on the growth of the channel, their flagship show KBC Marathi and other differentiating content and much more……

    On the rise in Marathi channels was it due to the pandemic

    No, it has happened much before COVID. The biggest thing that has happened is the shift from watching Hindi channels and daily soaps to Marathi. Earlier, all Marathi channels put together were less than 300 GRP and if you look at the Hindi channels, they use to be around 1400-1500 GRP. There were only seven Hindi channels back then. Now there will be no less than 20 Hindi channels but the GRPs have come down to 800. It is late to launch a channel and to make it grow and it is not happening. I can tell you more channels have shut down. But still, they’re hovering around 30-40 GRPs, not more than that. Whereas we’re currently sitting at 80-plus GRPs.

    On the launch of Sony Marathi five years ago and the challenges faced in most cities in Maharashtra, where Hindi content is also consumed

    We’re not just fighting against the Marathi genre, but also Hindi channels. If you look, we’re already on number three, as far as reach is concerned. For a new channel to come in and dislodge established channels and go to number three is because we are probably thriving and we’re feeding off the cultural heritage of Maharashtra and that is our USP. Also, we get about 81-83 per cent of audiences from NCCS AB and CCSA. That’s where we stand because our content is richer, that’s why we are premium. Our advertising revenue is also good because we can cull out the affluent class to the advertiser, who has the purchasing power.

    On other content other than reality shows

    We have daily soaps starting at 6:30 pm and our last show ends at 11:00 pm. We have about six daily soaps that are a very interesting mix and not the regular ones. At 6:30 we have a mythological show called ‘Gatha Navnathanchi’, which is the first ever show on audiovisual media ever on Navnaths. Navnaths were revolutionary people who wanted to help people and get out of this ritualistic and exploitative side of religion and give the right message to people. So, when we do mythology also it’s a different kind of mythology.

    Then at 7 pm, we have a story of a female wrestler, ‘Tuj Maj Sapan’. A wrestler girl marries a guy who is also a wrestler, but he’s left wrestling out of depression. It is about how both of them come together to build their dreams. At 7: 30, we have a show called Jivachi Hotiya Kahili. Jivachi, is a popular song from Sanyukt Maharashtra. It is a story about the Maharashtra and Karnataka border dispute and a love story.

    At 8 – Ashirvad Tujha Ekvira Aai

    At 8:30- Chotya bayochi mothi swapna

    At 9:00 – Kon Honar Crorepati

    At 10- Pratishodh Zunj Astitvachi

    At 10: 30- Karan Gunhyala Mafi Nahi

    On KBC being an iconic tentpole property for SONY(SET) and evolution of the audience starting from the first season 

    People watch KBC (Hindi) in Maharashtra and it is one of the key markets. The reason why we are doing it in Marathi is because KBC is in Hindi, the entire world is about Hindi not about Marathi. Language matters to people. Also, the kind of questions that come in are very different from what Hindi will have. Kon Honar Crorepati is Maharashtra-specific. The questions are related to history, mythology, literature, etc which are Maharashtra-centric.

    It has grown over the years. So last season, we got about 6,35,000 entries and this season we got 14,85,000. These contestants are called and asked a few random questions, once the right answers come in, they are interviewed, and there’s an exam. The top contestants are interviewed again by a panel of people from Studio Next and the channel brings down the number to around 400. Then there’s another panel which consists of an external person (Bharat Dabholkar) who is not connected with Studio Next or Sony, we watch all the interviews and give marks, there are also marks for personality etc. The cumulative scores are added and 100 people are selected. Out of which only 66 are lucky to get on to the hot seat, the rest are on stand-by.

    On Sachin Khedekar as the host

    Fantastic! Bachchan Sahab called him and appreciated him for the special gestures he does on the show. All the anchors that do KBC shows around the world have learned from the greatest man (Bachchan) himself.

    On doubling the money this year and the other offerings that you’re giving to the winners

    Looking at the entire excitement on the show, and the number of people who wanted to participate, I felt that we should be closer to Hindi, which is 7 crores. So there are lots of other smaller things like, everybody gets this huge silver coin from PNG Brothers who are the sponsors of the show. Also, sponsors have more than doubled this year. Last time we had about five-six sponsors. This time we have around 13-14. We have Gemini Oil and other integrations like RBF that come on Kon Honar Crorepati to spread awareness on safe banking.

    On the strategies to market the show

    All our promos come on, all the network channels like Sony SAB, SET Max, etc. Apart from that we have spent a huge amount of money on various outside network channels like news channels, movie channels, music channels, and everywhere else. We practically had every single print publication on which we circulated the ads.

    On the brand integrations

    We had spots on the IPL finale on JioCinema. Wherein Sachin Khedekar went there for the final match LIVE, for 40 minutes. We also did a bit of KBC gameplay there with the players. This was done only on the Marathi feed.

    On movie promotions on the show

    We don’t do movie promotions but we do have celebrities coming in on the show. Sachin Pilgaonkar was there with his daughter, Paresh Rawal, Mahesh Manjrekar and Shivaji Satam, among others were there on the show.

    Most channels have now started doing episodes on Sundays, are you also following that now

    We don’t do it seven days a week, we do six days and have been doing it since the very beginning. Only on Sunday, sometimes we have ‘Maha episodes’.

    On the one differentiator that KBC Marathi offers for its advertisers

    Looking at audiences from the NCCS AB, we get a little more premium audiences because Maharashtra is a wealthier state. The other thing is that people can apply through the Lenskart app to come to KHC.

    On Sony being perceived as a very urban channel, you haven’t been able to reach inroads into tiers 3 and 4. Today broadband connections, and connected TV happening how have you been able to reach the extra 20 per cent mass

    Yes, we are an urban network and when we are talking about Sony Marathi, Maharashtra itself is the most urban state and so we can reach deeper. We are appealing to their sensitivities. So unlike Hindi speaking markets, for us, it is a natural fit to reach out to smaller places because today’s date if you take any state, barring the capital, will not find many more megacities. The reach for Sony Marathi is because we appeal to urban sensitivity. That is why we are number three. We are the only network to have two big formats, Crorepati and Indian Idol. This was the first regional Indian Idol. So that gets us the premium audience which then gets us the premium advertisers. Regional opens up hyperlocal advertising.

    On STAR Pravah dominating the Maharashtra market

    Yes, they are number one by far. Television, according to me, is kind of a habit and habits don’t break that fast. My understanding on TV is what kind of habit are you generating? If that habit is breakable then it is not great for a television network. But if the habit is very strong, and one cannot get out of it. For example, back in 1994, Kellogg’s head told me in an interview that they were trying to get into the Indian market to break the habit of how you have breakfast. They had a huge issue, so they researched Kellogg’s to become part of our breakfast. So at Sony Marathi, what we are looking at is, forming this kind of loyalty to audiences, and if you notice the last six months our heavy viewers are growing. The reason is that we are being consistent in our offering.

    STAR Pravah was the leader in 2011 also but why did they go down so drastically? If you look at the number of STAR Pravah six years back, they were nowhere. So that is why Sony Marathi’s motto is Vinuya Atut Nati (Let’s Build Unbreakable Bonds). We are seeing the growth and if you see Sony Marathi’s consistency of growth will be growing 24 per cent per year. So we are building brick by brick.