MAM
Verizon promotes Francis Yip to lead Asia-Pacific business
NEW DELHI: US telecom operator Verizon has made a change to its top management. Francis Yip has been promoted to group vice president of Verizon Asia Pacific. Most recently he was Verizon managing direct for north Asia, responsible for its business in Hong Kong, China, Korea and Taiwan.
Verizon Enterprise Solutions president Christopher Formant said that in his new role, Yip is responsible for delivering strategic cloud, security, mobility, network and connected machines solutions to Verizon’s multinational enterprise clients across the APAC region.
Formant said: “Francis is an exceptional talent, and we believe he has the experience and expertise to continue to grow our business in APAC. His leadership in north Asia in the past two years has earned him a first-class reputation for commercial acumen. His in-depth understanding of technology businesses in Asia, particularly in emerging markets, will be instrumental in helping our customers move their businesses forward.”
Prior to joining Verizon, Yip was responsible for managing Dimension Data’s north Asia operations. He has also held senior management positions at Equant (now Orange Business Systems) including general manager for China. A native of Singapore, Yip is fluent in several languages including English, Mandarin, Cantonese, Korean and Malay.
He replaces Andrew Dobbins, who announced his retirement earlier this month. Verizon Enterprise Solutions provides advanced IT and communications services to enterprise and governments around the world.
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.
