MAM
Star India bags Team India title sponsorship
MUMBAI: It wants to own Indian cricket, it appears. The Rupert Murdoch owned 21st Century Fox India offshoot STAR India has bagged the title sponsorship rights to team India. Two bidders were in the final running – Sahara and Star India – the former was disqualified leaving Star with the title sponsorship.
This was announced by the Board of Control for Cricket in India (BCCI) through a tweet a short while ago.
A release sent out by the BCCI says that the team sponsorship will be “covering BCCI events, ICC events and ACC events, for the period 1 January 2014 to 31 March 2017.”
 |
Rights include the right to be called the “Official Team Sponsor,” and to display a commercial logo on the team clothing of the Sr. Men’s Cricket Team, the U-19 Men’s Cricket Team, the Men’s A-Team and the Women’s Team.
The decision was taken at a meeting of the BCCI’s Marketing Committee, on 9 December 2013.
The tender document, which was available from 11 November 2013, was picked up by seven prospective bidders. Bids were accepted until 3:00 pm on 9 December 2013, at which time the bids were opened and evaluated.
Two bidders – Star India and Sahara India Financial Corporation – were in the fray. Sahara’s bid was found to be ineligible.
“Star is the Title Sponsor for BCCI international and domestic matches for the period October 2013 to 31 March 2014, as well as the Holder of the Broadcast, Internet and Mobile Rights of cricket in India, for the period July 2012 – March 2018. Star has a deep understanding of the game of cricket, and what it means to the nation. We are pleased to extend our association with them,” BCCI secretary Sanjay Patel said.
“Star is delighted to become the Official Sponsor of the Indian cricket team. It’s a team of brilliant talent and we are proud to be associated with them. This is further endorsement of Star’s deep commitment to Indian cricket and Indian Sports in general,” said Star India CEO Uday Shankar.
Sources indicate that Star bid Rs 1.92 crore per match for a bilateral series, and Rs 61 lakh per match for ICC-sponsored tournaments.
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.
