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LeEco launches Super TVs; to invest Rs 1330 cr in Indian content
MUMBAI: LeEco claims to have ushered in new era of content integrated TVs in India with the launch of its Super3 series of Super TVs. Now there are strong indications or rumours that the company is now contemplating a slew of partnerships with leading names in the media -entertainment industry for content aggregation.
Bolstering its content ecosystem seems logical for a company like LeEco that has been very vocal about its content proposition as its key differentiator. Now it appears to have seriously embarked on upping its content offerings across movies, drama, sports, games and more.
It is speculated that LeEco is already in discussions with local content producers and international studios for content tie-ups and has started work towards developing in-house shows and formats.At the Super TVs launch event, the company made its intentions clear about looking at investing close to $200 million (Rs 1330 crores) into developing content for India, including its own produced content, over the next two to three years. If this is to be believed, then LeEco will really raise the bar in the industry when it comes to content integration into devices like smartphones & TVs.
Currently LeEco claims that their Super TV users will get to access about 2000 Full HD/HD films from Hollywood and Bollywood, more than 100 satellite TV channels, 3.5 million songs (coming soon by software upgrade), and more than 50live concerts. Sources reveal that in the coming months, the global corporate will most likely acquire more than 1000+ hours of content and might offer more than 15 HD channels as part of Le Live to its users.
It is also expected that LeEco will expand its offerings from entertainment to include popular games Rumour has it that LeEco will introduce over 500+ games in the next few months for its Super TVs and mobiles, eliminating the need for console gaming. These seem like ambitious moves and if true, will certainly makeLeEco a game-changer in the OTT-Content business in India.
Globally as well, for its TV business, LeEco is reportedly significantly ramping up its activities. Last week it announced the US$2 billion acquisition of smart TV manufacturer Vizio. In a recent move, LeEco is also rumoured to be exploring a content deal with Netflix.
This looks like an interesting time for the Smart devices industry both globally and in India. And content seems to be king-pin to lead this charge into the future.
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Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
