MAM
Capri Global Capital extends partnership with Gujarat Titans for the 2024 Season
Mumbai: Capri Global Capital Ltd, a leading non-banking financial company, announced an extension of its partnership with Gujarat Titans for 2024, marking its third year of collaboration.
As part of this alliance, the Capri logo will prominently feature on the right chest of the Gujarat Titans’ official team jerseys, representing the strong bond between the two entities.
Capri Global Group CMO Basant Dhawan stated, ” At Capri Global, we recognise the transformative power of sports in bringing communities together. With its incredible reach of over 500 Mn in India, the league is the fastest-reach aggregator across media platforms. It helps us drive brand connections with varied audiences across income strata and geographies. This is our 3rd year of association with the Gujrat Titans & we firmly believe that it will further help us drive brand affinity & create meaningful engagement propositions with our existing and potential customers.”
Gujarat Titans COO Colonel Arvinder Singh said, “We are delighted to continue our partnership with Capri Global into the new IPL season. Capri Global made its IPL debut with the Gujarat Titans and the extension of the association is a testament to the tremendous value added to the brand with our winning performances. We look forward to a long mutually beneficial association with Capri Global.”
Gujarat Titans is a professional franchise cricket team based in Ahmedabad, Gujarat. The team will be captained by Shubman Gill and coached by Ashish Nehra. In 2023, Gujarat Titans achieved over 1 billion views across social media platforms, reaching over 553 million people. Match viewership increased by 20% compared to the previous season.
Brands
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.
