MAM
Standard Chartered extends its partnership with Liverpool FC
MUMBAI: Over the last three years, Standard Chartered and Liverpool FC have reaped the benefits of their partnership through a number of initiatives – in particular, through a series of award-winning charitable and community-based campaigns around the world. The bank signed up as the club’s main sponsor in July 2010, appearing on the front of the red’s shirt for the last three seasons. The partnership has now been extended to run until the end of the 2015/16 season. Financial terms of the agreement remain confidential.
As part of the club’s strategy to bring fans closer no matter where they are in the world, Liverpool FC has embarked on a tour of Asia and Australia in partnership with Standard Chartered, where they will play in front of packed stadiums in Jakarta, Melbourne and Bangkok.
Liverpool Football chief commercial officer club Billy Hogan said, “We have enjoyed a fantastic first three years with Standard Chartered. Not only are they a terrific partner because of their presence and commitment to Asia, Africa and the Middle East, where we have a significant fan base, but because we both share a passion for community. We are delighted to announce the extension of our partnership, which demonstrates the belief and continued commitment to the work that we are doing together and the values that we share. There is a very bright future ahead for Standard Chartered and Liverpool FC as we continue to grow the world’s greatest football family.”
Standard Chartered PLC group chief executive Peter Sands said, “Our sponsorship of Liverpool Football Club has proved successful for both parties and we are delighted to be extending our partnership. Liverpool is hugely popular in the markets where we do business, and we are excited about the opportunity to continue to work with this fantastic club and their passionate fans.”
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.
