Bobby Kurian, journalist turned communications strategist and industry veterans Madan Bahal and Rajesh Chaturvedi, the founders of public relations firm, Adfactors PR have entered a joint venture. 

StratInk Consulting, the company formed by the trio, offers CEOs and investors in India Inc, communications solutions for complex business environments 

Kurian will lead the company as co-founder and managing director. He previously held senior editorial positions at The Times of India and The Economic Times, among other media. Kurian also provides advisory services to tech investors and multiple business leaders on growth opportunities and business risks.

StratInk will offer solutions for risk intelligence, merger and acquisition, public advocacy, people advisory, investment cycles, and geopolitical and economic trends. The company plans to bring consultants onboard from newsrooms, communications, law firms, capital markets and public policy platforms.

The joint venture will set up offices in Bengaluru, New Delhi and Mumbai.



Adfactors founders and Bobby Kurian partner to launch StratInk Consulting

StratInk Consulting, the company formed by the trio, offers CEOs and investors in India Inc, communications solutions for complex business environments

Embracing change and suffering for transformation: Dentsu’s Jean Lin

Goafest 2024 opens delegate registrations: Early bird rates available until May 15th

News and live sports platforms experiencing significant traction amidst IPL and elections: Interactive Avenues' Harish Iyer

Motilal Oswal AMC announces leadership changes; elevates Prateek Agrawal, Akhil Chaturvedi and Niket Shah

A CFO can be an integral part of decisions including client pitches and business development meetings: Sumit Agrawal, Cheil India

Bookstrapping: The Dirty Dozen by N Sundaresha Subramanian

Representational image via Unsplash

Zee-Sony merger saga ends: Timeline of the failed merger

Why are Indian brands advertising in NYC's Times Square?

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Advertising is in the position where tobacco was: IPG's Arun Kumar 

Biz Moves: Interactive Avenues, Verve Media, Foxymoron and Grapes

There is an opportunity for building a better agency, not just a different one: Manja's Prajato Guha

Bombay Shaving Company's 'opportunistic', 'desperate', 'laughable' Dear Prachi ad slammed by internet users

Bombay Shaving Company's 'opportunistic', 'desperate', 'laughable' Dear-Prachi ad slammed by internet users

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Is Tanmay Bhat’s net worth Rs 665 crore? Comedian and creator shares the truth

Crompton Greaves’ Pragya Bijalwan: If you fall seven times, stand up eight times & you’re sure to win

Piyush Pandey

Adtech regulation a priority for Modi govt in third term: MoS Rajeev Chandrasekhar

Credibility of news and platforms are as important as monetisation challenges: Anurag Thakur

HUL: Meet the leaders who have emerged from "The CEO Factory"

Punit Goenka addresses Zee employees; ensures no layoffs due to failed merger

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The Leader's Edge: Storyboard18 in conversation with leaders, decision makers and disruptors

Nobody’s Perfect Retro Porsche Ad

In Conversation With Raja Rajamannar, Mastercard

Shahid Kapoor And Varun Ganjoo Speaks On PokerBaazi's Campaign

In conversation with IHCL’s Puneet Chhatwal & GroupM’s Kate Scott-Dawkins

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Storyboard18 x The English Nut: How to pronounce these 10 brand names

Experts' Take On Reinvention Of Ad Campaigns Through Technology

Experts Speak On Key Emerging Trends In Cannes Lions Entries

Leaders of the future have to be outstanding human beings: Nestle MD

In conversation with VMLY&R’s Hari Ramanathan

Anil Kumar Lahoti, chairman of the Telecom Regulatory Authority of India on Thursday, said that the regulatory body will finalise the National Broadcast Policy by the end of May. 

Lahoti said that the regulatory body’s goal is to ensure that all stakeholders in the industry get a level playing field. He added that there should be no barriers to entry and discrimination towards new entrants and different players. 

The TRAI’s goal is to ensure that the consumer gets a good quality product at an affordable price, with convenience to avail the same. 

Speaking at Asia Video Industry Association’s (AVIA) Future of Video India conference, Lahoti emphasised the importance of the National Broadcast Policy saying that a pre-consultation was done before the main consultation as well. 

The last date given by the TRAI for receiving comments is April 30. Considering that this will only be an input to the Ministry of Information and Broadcasting (MIB), the TRAI has said that there will be opportunity for counter comments. 

Lahoti further stated that the TRAI will finalise the inputs once the comments come in since they have a target for completion by the end of May. Post this, it will be sent to the MIB around the first week of June. 

Sanjay Jaju, secretary, Information and Broadcasting too added that the Bill aims to streamline regulatory processes, and ensure that there is a balanced playing field for different service providers. 

He also said that through Bill, provisions for emerging technologies will be introduced, while keeping in mind the differences in the technologies, business models and issues that citizens might have related to various stakeholders. 

Jaju also added that the MIB sees the India’s media and entertainment industry achieving a market size of $100 billion. The industry is currently valued at around $28-30 billion. He said that this vision is anchored on initiatives aimed at increasing innovation, growth and making the most out of the new opportunities in the sector. 

<a href="https://www.storyboard18.com/how-it-works/trai-chairman-anil-kumar-lahoti-spotlights-regional-contents-reach-and-importance-says-tv-will-grow-25663.htm">Read more: TRAI’s Anil Kumar Lahoti: TV will grow, mobile is not replacing TV</a>




National Broadcast Policy to be finalised by May-end: TRAI chairman Anil Kumar Lahoti

Nestlé India Limited and Dr. Reddy’s Laboratories Ltd today announced that they have entered into a definitive agreement to form a joint venture (“JV Company”) to bring innovative nutraceutical brands to consumers in India and other agreed territories. 

The partnership will bring together the well-known global range of nutritional health solutions as well as vitamin, minerals, herbals and supplements of Nestlé Health Science (NHSc) with the ­­­­strong and established commercial strengths of Dr. Reddy’s in India. The joint venture will help JV Partners combine their strengths and grow their complementary nutraceuticals portfolios in categories such as metabolic, hospital nutrition, general wellness , women’s health and child nutrition for consumers across India.

<a href="https://www.storyboard18.com/quantum-brief/nestle-to-launch-global-brand-nespresso-in-india-by-2024-end-29938.htm">Read More: Nestlé to launch global brand Nespresso in India by 2024-end</a>

The JV Company will be headquartered in Hyderabad. The JV Company will leverage the capabilities as well as services of the Nestlé Group and Dr. Reddy’s.

Select brands will be licensed by the JV Partners to the JV company. The Nestlé Group will license brands such as Nature's Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal and Resource Dialysis. Dr. Reddy’s will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, Becozinc in the nutrition, and OTC segments. The JV Company is expected to become operational in Q2 of FY’25. 

Commenting on the joint venture, Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am very happy to share that we are entering into a joint venture with Dr. Reddy’s Laboratories Ltd. We have been on a journey where we strive to add value to the lives of our consumers through powerful brands and products. This joint venture is another important step in that direction, allowing us to bring our science-backed nutritional solutions to more people across the country. Dr. Reddy’s is a trusted name in the pharmaceutical space and shares our commitment to provide access to high quality products. This joint venture will enable us to build a robust retail and distribution network to take our brands closer to consumers and making a meaningful difference to improve the quality of life.”

<a href="https://www.storyboard18.com/quantum-brief/nestle-india-sales-crossed-rs-5000-crore-march-quarter-29942.htm">Read More: Nestle India sales crossed Rs 5,000 crore in March quarter</a>

M.V. Ramana, CEO – Branded Markets (India & Emerging Markets), Dr. Reddy’s said, “This joint venture is a novel approach by two companies that have a shared purpose of good health. We are pleased to partner with Nestlé India to bring innovations from the Nestlé Health Science global portfolio to consumers in India. This novel approach of leveraging mutually complementary strengths of both parent companies will enable better access and affordability for consumers.”
 


Nestlé India and Dr. Reddy’s form JV to bring nutraceutical brands to consumers across India

Nestle India has released its quarterly report on April 25, reporting a standalone net profit of Rs 934 crore in March quarter, up 27 percent from Rs 737 crore a year ago.

A poll of seven brokerages resulted in a net profit of Rs 856 crore, up 22 percent from the previous year and 17.8 percent from the December quarter.

Nestle is facing a probe by the FSSAI amidst allegations of high sugar content in baby food.

<a href="https://www.storyboard18.com/quantum-brief/nestle-to-launch-global-brand-nespresso-in-india-by-2024-end-29938.htm">Read More: Nestlé to launch global brand Nespresso in India by 2024-end</a>

The company also revealed that its revenue increased 9 percent to Rs 5,268 crore. 

Nestle has also announced the launch of its Nespresso offering in India by the end of 2024. 

Nestle India has also announced that it will be entering into a joint venture with Dr. Reddy’s to consolidate its global range of nutritional health solutions, vitamins, minerals and health supplements of Nestlé Health Science. The JV is expected to turn operational in the second quarter of the financial year 2024-25.

Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am pleased to share that we have delivered double-digit growth, despite challenges posed by rising food inflation and volatile commodity prices. We have witnessed a strong growth momentum across our product portfolio led by a combination of pricing and mix. Our domestic sales crossed INR 5,000 crore this quarter, a notable milestone for us. I would like to extend my heartfelt gratitude to my colleagues, distributors, retailers and partners for their unwavering dedication, determination, and diligence.

In the financial year ended 31st March 2024, Confectionery delivered strong performance, fuelled by KITKAT, making India the second-largest market for the brand globally. Nestle’s Beverages business recorded robust performance. NESCAFÉ has introduced its coffee to over 30 million households in India in the last 7 years. Milk Products and Nutrition witnessed strong growth despite inflationary pressures. Prepared Dishes and Cooking Aids registered strong growth across portfolio led by MAGGI Noodles and MAGGI Masala-ae-Magic. India emerged as the largest market worldwide for MAGGI.

 


Nestle India sales crossed Rs 5,000 crore in March quarter

NESPRESSO, the pioneer in premium coffee with its range of exclusive coffees will be launched in India by the end of 2024. 

The NESPRESSO coffees and machines will be available in both original and professional systems, to serve domestic and professional consumers. The first NESPRESSO boutique is intended to be opened in Delhi, before expanding to other key cities. NESPRESSO will also be sold online through e-commerce platforms. This  launch will bolster Nestlé India's premium coffee offerings. 

All NESPRESSO coffees are manufactured in high quality, state of the art manufacturing factories in Switzerland and exported to Nestlé markets worldwide. 

Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am very happy that NESPRESSO will soon be available for consumers, coffee aficionados and coffee connoisseurs in India, to unlock new experiences and discover extraordinary coffees. In recent years, coffee consumption in India has witnessed a surge, with a discernible trend towards in- home consumption. A growing young population, exposure to global trends, and new experiences has established India as one of the fastest-growing coffee markets for Nestlé.” 

Guillaume Le Cunff, CEO of Nestlé NESPRESSO S.A., said, “I am delighted that we will be introducing NESPRESSO to coffee lovers in India. For almost 40 years, NESPRESSO has been committed to elevate the coffee experience through our signature taste, and our commitment to sustainability embodied in our firm belief that coffee can be a force for good. After sourcing green coffee from India since 2011, I am excited to see the brand continue to grow in this promising coffee market.” 

NESPRESSO focuses on high-quality beans through the NESPRESSO AAA Sustainable Quality Program, which was co-created in collaboration with the Rainforest Alliance in 2003. The program now includes over 150,000 coffee farmers across 18 countries. Around 600 NESPRESSO agronomists work directly with farmers, providing training and resources to improve coffee quality, farm productivity and sustainability. By selling high quality coffee to NESPRESSO, the farmers receive a premium which could improve their income and a more secure livelihood. Over 93% of coffee is sourced sustainably through the NESPRESSO AAA Sustainable QualityTM Program. NESPRESSO has been sourcing high quality green coffee from  India since 2011 and works directly with around 2,000 coffee farmers in the country. 


Nestlé to launch global brand Nespresso in India by 2024-end

The review petition filed by the promoters of Zee Entertainment Enterprises Ltd (ZEEL) challenging a December 2023 order in a loan default case was dismissed by the Bombay High Court on Wednesday. 



Zee promoters Cyquator Media, Essel Corporate Llp and Direct Media Distribution Ventures in their petition, claimed that the order would cause them ‘grave prejudice’. 

<a href="https://www.storyboard18.com/how-it-works/nclt-admits-ibhfs-personal-insolvency-plea-against-zees-subhash-chandra-29687.htm">Read More: NCLT admits IBHFL's personal insolvency plea against ZEE's Subhash Chandra</a>


On December 11, the Supreme Court issued a notice to Essel group firms, Cyquator Media Services and Direct Media Distribution Ventures, in response to an appeal by IDBI Trusteeship Services. The appeal challenges a National Company Law Appellate (NCLAT) order that dismissed its insolvency plea against the two companies.





Cyquator Media Services, affiliated with Zee Entertainment Enterprises Ltd (ZEEL), is among the companies under scrutiny.


<a href="https://www.storyboard18.com/brand-makers/zees-punit-goenka-rejigs-leadership-elevates-key-business-leaders-29358.htm">Read More: ZEE’s Punit Goenka elevates key leaders while assuming charge of all critical businesses including Domestic Broadcast</a>


Chief Justice of India (CJI) DY Chandrachud-led bench has granted the firms a four-week period to provide their responses to the notice.



Bombay HC dismisses Zee promoters petition challenging loan default order

LIC has issued a public caution notice that brings to attention that certain individuals or entities have been engaging in fraudulent advertising practices across social media platforms by falsely using images of the company’s senior officials or ex officials, brand logos, and brand name without consent. 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">PUBLIC CAUTION NOTICE<a href="https://twitter.com/hashtag/LIC?src=hash&amp;ref_src=twsrc%5Etfw">#LIC</a> <a href="https://t.co/TRKH1I3bfQ">pic.twitter.com/TRKH1I3bfQ</a></p>&mdash; LIC India Forever (@LICIndiaForever) <a href="https://twitter.com/LICIndiaForever/status/1783027178411794450?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

LIC has issued the notice across its social media platforms informing people that it has not authorised any person or entity to use the name or image of any of their senior officials or ex officials, brand logos or brand names for advertising purposes outside of their official channels. 

The company has urged policy holders, other stakeholders and the general public to exercise caution and verify the authenticity of any such advertisements on social media platforms that feature the brand’s elements or claims purportedly associated with them. 

LIC has also asked that such suspicious advertising and misuse of brand assets if encountered, should be reported to them on their official social media platforms. 

The company also plans to take legal action against those found engaging in these fraudulent activities without authorisation. 


LIC issues public caution notice against fraudulent advertising

Public broadcaster Prasar Bharati is accelerating its foray into the OTT(over-the-top) space, this time seeking media sales muscle. After releasing a draft RFP (Request for Proposal) last year outlining the platform's features and goals, the pubcaster issued a fresh e-tender on April 19 for a multimedia and media sales agency contract.


The e-tender invites bids from pre-approved DAVP (CBC) multimedia and media sales agencies for a Rs. 4 crore contract (including taxes). The scope of work for the agencies will include branding, marketing, promotion, media planning, sales, and media buying for the platform across pre-launch, launch, and post-launch phases.


The chosen agency will be responsible for crafting a comprehensive strategy to generate excitement for the platform using various media channels. The contract spans the first 12 months following the launch and is extendable up to another 12 months based on performance review.


As per the tender document accessed by Storyboard18, scope of work related to media planning, selling and buying includes, media plan development, refinements, and amendments, as needed throughout the course of the fiscal year, create holistic media plan recommendations reflective of the key metrics, research against the target audience, and creative direction to satisfy the vision of reaching rural and urban  audiences for a diverse and inclusive reach supporting a monetisation plan for the OTT , targeting audience development for all core general market targets.


“Media planning will include the use of all media vehicles as needed based on strategic direction which includes network TV, cable TV, radio, consumer print, trade print, outdoor, etc,” said the document.


Selling responsibilities on the other hand include media sales strategy development.


Empanelled agencies would be required to create a comprehensive media sales and monetization strategy, including identifying target audiences, setting pricing models, and defining sales  channels for the OTT platform.


Creating an inventory pipeline for advertising on the OTT platform and bringing in hyper local advertising and creating a mechanism for attracting advertising on the OTT platform will also be part of the key responsibilities for these agencies.


The document also outlines the fact that with nearly 78 (and growing) OTT platforms already vying for audience attention, Prasar Bharati faces a significant hurdle of standing out in a crowded market.


“The challenge that lies ahead of PB is cutting through the clutter of almost 78 (and counting) OTT platforms that are already available in the Indian market, and what difference are they going to make on OTT that will give them the scale as well as avenue of fresh revenue to sustain the initiative. As a National Public Service Broadcaster, PB intends to primarily make content available to the masses free of cost or minimal charge for select content (at least in the initial phase),” they said in the document.


Therefore the source of revenue for the platform would be predominantly platform advertising, licensing fee, aggregator fee or a revenue share model.


Bids for the tender open on May 3rd, 2024, with a required earnest money deposit of Rs. 8 lakh.


<strong>Read More:</strong> <a href="https://www.storyboard18.com/brand-marketing/modi-3-0s-plans-for-doordarshan-and-prasar-bharati-return-to-saffron-logo-just-the-start-29645.htm">Modi 3.0's plans for Doordarshan and Prasar Bharati; Return to saffron logo just the start</a>


Prasar Bharati invites e-tenders for multimedia and media sales agency ahead of its OTT launch: Exclusive

On November 22 last year, The Supreme Court issued a warning to Baba Ramdev's Patanjali Ayurved, for publishing misleading claims and ads against modern systems of medicine. 



Responding to a petition from the Indian Medical Association (IMA) challenging deceptive advertising practices, the court said it could impose fines of up to Rs. 1 crore on each product if a false claim is made regarding its ability to 'cure' a specific disease,





The issue began when Patanjali Ayurved began advertising their ‘Coronil’ medicine as a cure for Covid-19. 


<a href="https://www.storyboard18.com/how-it-works/we-earnestly-apologise-for-the-mistake-made-in-publishing-our-advertisements-patanjali-ayurved-issues-apology-29778.htm">Read More: 'We earnestly apologise for the mistake made in publishing our advertisements': Patanjali Ayurved issues apology</a>



A Bench of Justices Ahsanuddin Amanullah and Prashant Kumar Mishra emphasised that the issue could not be reduced to a debate between modern medicine and Ayurvedic products, and instructed Patanjali Ayurved to immediately halt all false and misleading ads.



In addition to addressing Patanjali's advertising practices, the SC asked the Union to tackle misleading medical ads and come up with a proposal of suitable recommendations after consultations in the next hearing, scheduled for February 5, 2024. 



IMA argued that Patanjali's unverified claims violate laws such as the Drugs & Other Magic Remedies Act, 1954, and the Consumer Protection Act, 2019.



Despite the Ministry of AYUSH's memorandum of understanding with the Advertising Standards Council of India for monitoring misleading advertisements of AYUSH drugs, Patanjali allegedly continued to violate the law with impunity, according to the petition.



On November 23, the SC issued a stern warning to Patanjali Ayurved for misleading claims and ads against modern systems of medicine, the company said it was not making any "false advertisements or propaganda" regarding its products. 



The company went on to say that it would not object if the Court were to impose a fine or "even give us a death sentence" if found making misleading claims.  



Amidst the ongoing case, Storyboard18 reported on January 12 this year that Anita Nayyar, who led Patanjali Ayurved as COO - media, branding and communication, had moved on from the company.



On February 27, Patanjali Ayurved and its managing director Acharya Balakrishnan were held in contempt by the Supreme Court. The SC issued them the notice for violating its previously passed order against misleading advertising that talked about being able to cure serious diseases or makes claims against allopathy, etc. 



Apart from issuing notice, the SC also temporarily restricted Patanjali Ayurved from advertising anything that claimed to cure diseases like illnesses such as blood pressure, diabetes, fevers, epilepsy and lupus, specified in the Drugs and Magic Remedies (Objectionable Advertisements) Act 1954. 



“Respondents are restrained from advertising and branding of their marketed medicinal products specified as treating diseases/ailments as in the rules, until further orders. They are cautioned from making any statements adverse to any medicine system in any form in print or other media,” said a division bench chaired by Justice Ahsanuddin Amanullah. 



“The entire country is taken for a ride!,” and the government is "sitting with its eyes closed,” he added. 



“Today, I am going to pass a really strict order. You flouted this order! You had the courage and guts to come up with this advertisement after the order of this Court! And then you come up with this advertisement. Permanent relief, what do you mean by permanent relief? Is it a cure?...we are going to pass a very, very strict order. You are tempting the Court,” the Justice added. 


<a href="https://www.storyboard18.com/quantum-brief/is-the-apology-as-big-as-your-advertisements-sc-asks-baba-ramdevs-patanjali-ayurved-29727.htm">Read More: 'Is the apology as big as your advertisements?', SC asks Baba Ramdev's Patanjali Ayurved</a>



On March 19, the SC summoned Ramdev and Balakrishna for their non-response to the contempt  notice. 

The company formally expressed regret to the SC on March 21m in response to a notice prompting it to justify why contempt of court proceedings should not be initiated for allegedly breaching an assurance provided to the top court on November 21, 2023. 





In the affidavit filed in response to the notice, Balkrishna said they ‘regrets that the advertisement in question which was meant to contain only general statements inadvertently included the offending sentences’.



They also said that they will ensure that such advertisements are not issued in the future.



The affidavit also said that Schedule J of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954 read with Drugs and Magic Remedies (Objectionable Advertisements) Act, 1955 is in an archaic state and the last changes were introduced in 1996.



“Company now possesses evidence-based scientific data with clinical research conducted in Ayurveda, which would demonstrate the advances made through scientific research in the context of diseases mentioned in the said schedule,” the affidavit added.



On April 2, Ramdev and Balakrishna appeared in Court. The SC came down heavily on Patanjali for defying its orders and observed that the medical advertisements issued by the Ramdev-led company are in the "teeth of law". 



'Be ready for action', the Supreme Court told Ramdev, stating that the court would need to take contempt cases to the logical conclusion. 



A bench of Justices Hima Kohli and Ahsanuddin Amanullah also refused to accept the apology tendered by Patanjali in March. "We are not happy with your apology," the top court said, giving the company one last opportunity to file a 'better' response in its contempt proceedings. The case will be next heard on April 10.



The apex court also held the government responsible, saying again that the government chose to shut its eyes and asked the Centre for explanation over why action was not taken against claims made against allopathy during the pandemic. 



On April 8, it was reported that the Uttarakhand state licensing authority had delayed action for more than two years based on complaints about Patanjali’s misleading ads. 



The SLA said that since the matter was with the Supreme Court, any action against Patanjali will be a result of the judgement passed by the Court. However, the SC said that it had not given any instruction to wait for judgement to take action. 



The Ayush ministry filed an affidavit in the court which showed that the SLA had taken no action for two years other than giving warnings that asked the company to stop showcasing its advertisements. However, Patanjali continued to display ads even after the warnings for two years. 



Ramdev and Balakrishna filed a fresh affidavit in the Supreme Court, extending an "unconditional and unqualified apology" on April 9. 



However on April 10, the SC rejected the second affidavit of apology submitted by Patanjali and the bench warned them to be ready to face action in the contempt case.





Justice Kohli said, "Why should we not treat your apology with the same disdain as shown to the court undertaking? We are not convinced... Now a message must go to society." 





"Till the matter hit the Court, the contemnors did not find it fit to send us the (fresh apology) affidavits. They sent it to the media first... They believe in publicity clearly," Justice Kohli said, as per reports from the court proceedings. 



The SC also pulled up Uttarakhand drug authorities, asking why no action was taken against the violations and despite clear mention of 'suggestive nature' of content in Patanjali Ayurved's advertising for its products. 



On April 16, Mukul Rohatgi appeared for Patanjali and Ramdev told the Court, "I am willing to give a public apology…., We claim that we have an alternative system of medicine.”



The bench said that they were not convinced of the plea and asked Ramdev and Balakrishna to appear once again before the court at the next hearing of the case on April 23. 



At the next hearing, the Court asked the company if the public apology that was published by them in the newspapers on April 22, was “as big as their advertisements.” 



The bench also asked why the apologies were filed the day before the hearing and not earlier. Advocate Mukul Rohatgi, appearing for Ramdev and Managing Director Acharya Balkrishna, said that the apology was published in a total of 67 newspapers and cost around Rs. 10 lakh. 



Justice Hima Kohli asked, ”Has the apology been published prominently? Same font and size as your earlier advertisements?” To this, Rohatgi said that they had spent lakhs on publishing the apologies. The court replied saying, "We are not bothered.”



The Supreme Court also mentioned that they received an application asking for a Rs. 1000 crore fine against the Indian Medical Association (IMA) for its case against Patanjali. In reply, Rohatgi informed the court that his clients had nothing to do with it. 



The court adjourned the matter for another week after Ramdev informed the court that he will issue a larger apology in newspapers. 



The company on April 24, put out a bigger apology in leading newspapers. 



“In the wake of the ongoing matter before the Hon’ble Supreme Court of India, we in our individual capacity as well as on behalf of the Company, unconditionally apologise for the non-compliance or disobedience of directions/orders of the Supreme Court of India,” the apology read. 



“We unconditionally extend the apology for holding meeting/press conference dated 22.11.2023. We earnestly apologise for the mistake made in publishing our advertisements and it is our wholehearted commitment that such errors will not be repeated. We undertake to abide by directions and instructions of the Hon’ble Court with due care and utmost sincerity. We undertake to uphold the majesty of the Court and comply with applicable laws and directions of the Hon’ble Court of law/relevant authorities,” it added. 

Patanjali Ayurved vs Supreme Court: A timeline of the misleading ads case

Meta Platforms, Inc., the parent company of Facebook and Instagram, reported its financial results for the quarter ended March 31, 2024. Meta reported a significant rise in Q1 profits, driven by increased advertising revenue and a 6 percent rise in average ad prices on its platforms. Meta's advertising revenues grew to $35.63 billion in the three months ended March 31, 2024, up from $28.10 billion in Q1 2023. 

Meta's total revenue for the quarter saw a 27 percent rise to $36.46 billion, as compared to $28.65 billion in Q1 2023.

Meta also revealed plans for increased capital expenses in 2024, mainly due to investments in artificial intelligence. It forecasts expenses in the range of $35-40 billion. 

"It's been a good start to the year," said Mark Zuckerberg, Meta founder and CEO. "The new version of Meta AI with Llama 3 is another step towards building the world's leading AI. We're seeing healthy growth across our apps and we continue making steady progress building the metaverse as well." 
  
<strong>First Quarter 2024 Operational and Other Financial Highlights</strong>

Family daily active people (DAP) – DAP was 3.24 billion on average for March 2024, an increase of 7% year-over-year.

Ad impressions – Ad impressions delivered across our Family of Apps increased by 20% year-over-year.

Average price per ad – Average price per ad increased by 6% year-over-year.

Revenue – Total revenue and revenue on a constant currency basis were $36.46 billion and $36.35 billion, respectively, both of which increased by 27% year-over-year.

Costs and expenses – Total costs and expenses were $22.64 billion, an increase of 6% year-over-year.

Capital expenditures – Capital expenditures, including principal payments on finance leases, were $6.72 billion.

Capital return program – Share repurchases were $14.64 billion of our Class A common stock and dividends payments were $1.27 billion.

Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $58.12 billion as of March 31, 2024. Free cash ow was $12.53 billion.

Headcount – Headcount was 69,329 as of March 31, 2024, a decrease of 10% year-over-year.

Meta expects second quarter 2024 total revenue to be in the range of $36.5-39 billion. Meta said, "We expect full-year 2024 total expenses to be in the range of $96-99 billion, updated from our prior outlook of $94-99 billion due to higher infrastructure and legal costs. For Reality Labs, we continue to expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and our investments to further scale our ecosystem." 

"We anticipate our full-year 2024 capital expenditures will be in the range of $35-40 billion, increased from our prior range of $30-37 billion as we continue to accelerate our infrastructure investments to support our artificial intelligence (AI) roadmap. While we are not providing guidance for years beyond 2024, we expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts." 

"Absent any changes to our tax landscape, we expect our full-year 2024 tax rate to be in the mid-teens. In addition, we continue to monitor an active regulatory landscape, including the increasing legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results. Q1 was a good start to the year. We're seeing strong momentum within our Family of Apps and are making important progress on our longer-term AI and Reality Labs initiatives that have the potential to transform the way people interact with our services over the coming years." 


Meta Q1 2024 Results: Ad revenue grows to over 35 billion dollars

PVR Inox is offering ad-free movies just like a streaming platform to combat the decline in footfall in cinemas, reported Moneycontrol. 

Big Bollywood films too have failed to perform optimally in the last three months, resulting in poor box office collections which has affected the theatre business. 

PVR Inox is looking to add extra shows by reducing the length of ads slots before movies from 35 minutes to 10 minutes. 

Audiences will not see ads even during the intervals. Just upcoming movie trailers will be showcased. 

PVR Inox believes that the revenue loss from advertisements will be compensated with the additional footfall it’ll receive by adding one more show thanks to the time saved. 

The company wishes to increase focus to their own products i.e the movie trailers,  for which consumers come to cinemas. However, PVR Inox said that brand like Pepsi and Coke will be kept on the screen within the 10 minutes. 

PVR Inox has currently launched the new product in seven luxury properties of the multiplex chain in Delhi, Mumbai, Bengaluru, among others, since April 1. 




Adfactors founders and Bobby Kurian partner to launch StratInk Consulting

StratInk Consulting, the company formed by the trio, offers CEOs and investors in India Inc, communications solutions for complex business environments

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