MAM
Ramesh Narayan inducted into IAA Hall of Fame
MUMBAI: On 1st. March 2014, at a glittering ceremony in Mumbai to award marketers, media leaders and advertising achievers, the International Advertising Association (IAA) inducted Ramesh Narayan into its Hall of Fame.
This is the highest honor given to a recipient by the IAA.
Kaushik Roy, President Marketing Reliance Industries Ltd. read out the citation where the achievements of Ramesh Narayan were listed. These included the leadership role he played in associations like the Advertising Club, the Advertising Agencies Association of India, Asian Federation of Advertising Associations and the International Advertising Association. It commended him for being an influential force in establishing and nurturing creative awards in the country and for being a dominant factor behind the conduct of the AdAsia 2003 in Jaipur and AdAsia 2011 in New Delhi. It also recalled the decisive role he has played in the Audit Bureau of Circulations and the National Readership Survey and mentioned his thought leadership which helped institure the IAA’s flagship projets Lighting a Billion Lives, IAA Olive Crown Awards and the IAA leadership Awards. Finally, it referred to his journalistic achievements and to his social bent of mind.
Ramesh Narayan said he was humbled to receive this great honor. Saying that the industry needed heroes to inspire the younger generation, he accepted the award on behalf “of those unsung heroes whose little contributions have made a big impact” on the industry.
Srinivasan Swamy President IAA said “I am delighted that this award could be conferred on Ramesh in my term as President.”
The IAA is a unique partnership of marketers, advertising agencies and the media with a robust presence in 77 countries across the globe.
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.
