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LML defaults on payment, INS cautions members

19-January-2002
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LML defaults on payment, INS cautions members

The Indian Newspaper Society (INS) has issued a circular to member publications and accredited advertising agencies advising them to exercise caution while accepting advertisements from scooter manufacturer LML Ltd., following default of payment to advertising agencies.

According to INS, LML has defaulted in payments to the tune of several crores of rupees to two advertising agencies.

According to LML's General Manager-Marketing, Mr. Hemant Malhotra, the whole issue was one of a misunderstanding with the agencies, including FCB Ulka, and had been blown out of proportion by the INS.

INS in its circular, informed members and advertising agencies that the advertising agencies concerned had cleared the dues of member publications despite the fact that the company had not paid them their dues. The circular assured member publication and advertising agencies that action under Rule 56 (A) of the Accreditation Rules was being considered in the event of the company continuing to default on its payments.

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