MAM
Snapdeal names Amit Maheshwari as Exclusively CEO
MUMBAI: Close on the heels of appointing Animesh Sharma as the chief technology officer of Exclusively, Snapdeal has now roped in Amit Maheshwari as CEO of the online premium fashion destination, which it acquired in February 2015.
Maheshwari, who earlier held the position of senior vice president of fashion at Snapdeal, was instrumental in growing the fashion and lifestyle category into one of the most successful businesses, which is well on-course to become a $2 billion business within the current year.
His appointment as the CEO of Exclusively, is part of Snapdeal’s efforts to build Exclusively as India’s largest premium fashion destination.
Snapdeal co-founder and CEO, Kunal Bahl said, “Amit has been a core member of Snapdeal’s leadership team and the driving force behind the exceptional successes of our fashion business. As we create India’s most impactful digital commerce ecosystem, it is important to stay agile and move ahead with assured pace. In this new entrepreneurial role, Amit will be at the helm of Exclusively’s growth and we are certain that with his expertise and intricate knowledge of fashion business, Exclusively will very soon be India’s largest premium fashion destination.”
Maheshwari added, “The move to Exclusively is a continuation of my journey that began three years ago at Snapdeal. We are focussed on building a highly scalable premium fashion business at Exclusively. Together with the dynamic and vibrant team at Exclusively, I am looking forward to this exciting journey ahead.”
Exclusively general managers, Sunjay and Mohini Guleria too welcomed the move. “There is a tremendous void in the online premium and luxury fashion space. The proven leadership from Snapdeal combined with our experience in luxury fashion and creative DNA is a powerful combination to disrupt the industry,” said Guleria.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: 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.
