Ad agencies owe DD Rs 24 crore, Rs 53.7 crore recovered by arbitration

NEW DELHI: Noting that there were outstanding dues of approximately Rs 6.40 crore for 2013-14 and Rs 17.76 crore for the year 2014-15 in respect of various Doordarshan Kendras, a Parliamentary Committee has asked the Information and Broadcasting ministry and Prasar Bharati that the process of recovery of dues should be expedited.

The Parliamentary Standing Committee for Information Technology which goes into issues relating to I and B also noted that the final figures of outstanding amount due for the year 2015-16 were still being worked out and, as such, there could be some outstanding dues for that year also.

At the outset, the Committee said the issue of outstanding dues of the Doordarshan Kendras has been lingering for quite some time and there was a huge pendency of outstanding dues. However, the ministry said there was no outstanding amount in respect of All India Radio stations.

Arbitrators had passed fifteen awards in favour of Prasar Bharati and approximately Rs 53.71 crore had been recovered by taking recourse to provisions of the Arbitration and Conciliation Act 1996 (including all amendments till 2015) by filing its claims against such defaulting advertising agencies for the recovery of outstanding dues.

The Committee was told Prasar Bharati is making efforts to recover the outstanding dues by continuously pursuing the defaulters to make payment and request reminders are sent, and in case of delay, Doordarshan charges interest @ 14.5 % from the defaulting agencies. Bank Guarantees of the defaulting agencies are encashed as per terms and conditions of the agreement.

Latest Reads
BKC DIVE joins the 'Gully Boy' frenzy with it's own rendition

Joining the 'Gully Boy' furor is popular 'no fuss' bar BKC Dive!  With a catchy rap, the brand has brought alive the vibe of the venue.

MAM Marketing Brands
MUFTI bags ‘Retailer of the Year’ award at Global Awards for Retail Excellence

Adding yet another title to its roster of accolades, MUFTI – Largest Indian Denim Brand bags the ‘Retailer of the Year’ award in the Fashion and Lifestyle category at Global Awards for Retail Excellence.

MAM Marketing MAM
Fastrack 'moves' hearts with an initiative conceived by Lowe Lintas

One of the most youthful brands in India, Fastrack, has come up with a moving initiative celebrating Valentine’s Day.

MAM Marketing MAM
Cornitos propagate exciting supernumerary Nacho offer packs

On accomplishing the 10 year mark in the industry, Cornitos brand of Greendot Health foods Pvt Ltd, is coming up with a rousing offer on two of their exotic Nacho Crisps flavors with extra 25% crisps in their 60gm packs.

MAM Marketing MAM
Posterscope predicts 12-15% growth for OOH in 2019

Posterscope India, location-based marketing specialist from the house of Dentsu Aegis Network, has predicted a disruptive growth for OOH in India, which will range between 12 to 15 per cent in 2019. As per its findings, the year is expected to be an important and exciting one for the OOH industry...

MAM Media and Advertising Out Of Home
Mondelez India lets people pop their hearts out this Valentine's day

To celebrate Valentine’s Day, Mondelez India amplified its ‘Pop Your Heart Out with Silk’ campaign launching a new heart-warming digital film, ‘Cadbury Silk Unsaid Stories’. The TVC opens with a meet-up where members from young to old are shown narrating their love stories, talking about how...

MAM Media and Advertising Ad Campaigns
Kaya Limited and Marico gets into a licensing arrangement

Kaya Limited has signed a licensing agreement with Marico to launch a new skincare brand - Kaya Youth that will be aimed at the younger consumers. As a part of the deal, Marico will pay royalty to Kaya, a separate listed entity.

MAM Marketing Brands
Madison Group CEO Vikram Sakhuja on TRAI tariff order, Ekam & media landscape

In a highly VUCA media world, over I’m going to attempt to answer the question of what’s in store for media in the near future. Today 11000 TV and radio advertisers, over two lakh print advertisers, 1500 OOH advertisers and 300 large - 2 lakh long tail online advertisers think long and hard about...

MAM Media and Advertising People
Posterscope predicts disruptive growth for OOH in 2019

In unison with the seismic changes that the industry is witnessing across the media, marketing and communications community, out-of-home is also transforming at pace and is presenting many new and exciting opportunities. Consequently, 2019 is expected to be another important and exciting year for...

MAM Media and Advertising Out Of Home

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories