MAM
Shalimar Paints brings on board Shankar Subramanian
MUMBAI: Shalimar Paints Limited, one of India’s leading paint manufacturing companies, has appointed Shankar Subramanian as Vice-President for its decorative business. In this role, he will be responsible for growing the company’s decorative business and add to the leadership depth of the company.
The Indian paint industry is valued at approximately Rs. 30,000 crores with decorative paints constituting two-thirds of the market and the remaining, industrial. Buoyed by growing urbanisation and changing lifestyles, the decorative paints segment is registering faster growth. Shalimar Paints is undergoing a strategic transition to become a consumer-centric company through increased focus on the decorative paints business.
Shalimar Paints managing director and CEO Sameer Nagpal said, “Shalimar has embarked on a journey of transformation to emerge as a strong player in the Indian paint industry. Growing our decorative business profitably is central to this strategy. Shankar joins us at this crucial juncture with the objective of driving growth, improving product mix, creating a distinctive value proposition for customers and strengthening channel relationship. With his extensive experience in multiple industries, Shankar will play a key role in Shalimar’s transformation journey.”
Shankar has over 15 years of experience in sales, marketing and business development across consumer durable, IT and retail sectors. He joins Shalimar Paints from Ingersoll Rand, an industrial technology company where he was the Director for Residential Solutions business, responsible for establishing the Trane brand of air-conditioners in India. He has a proven track record of successfully leading sales, distribution, channel management and marketing in his previous roles with MIRC Electronics, BenQ India, Samsung, Blue Star, LG and others.
A graduate in Physics from Pune University, Shankar is passionate about technology. He holds a post graduate diploma in marketing from Institute for Social Sciences and Research, Vellore, and has completed a one-year executive program on strategic management from IIM Calcutta.
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.
