MAM
Floriana Group is Rajasthan Royals team sponsor
MUMBAI: Indian Premier League (IPL) franchise Rajasthan Royals today launched their team‘s new jersey and welcomed Floriana Group as team sponsor and HDFC Life as the principal associate team sponsor for IPL4.
Rajasthan Royals CMO Raghu Iyer said that the deal with Floriana is for one year, with an option to renew.
With this, the franchise takes the number of sponsors and partners to 17.
As had been reported earlier by Indiantelevision.com, the franchise is targetting revenue growth of 25 per cent.
Designed by Puma, which is the franchises‘ official kitting partner, this year‘s jersey is the lightest among the ones used in all the past three IPL seasons. Made with Polyester and lightweight mesh back, the jerseys are made to give high breathability in soaring temperatures. With uniquely styled names and numbers inscribed in Dazzel gold, the royal blue jerseys have cut and sew panels with Dazzel inserts.
“We are proud that a company (Floriana) that has not been present in this sport, has chosen us as a platform.” Kundra said, “We are eagerly looking forward to the season ahead and would like to welcome Floriana Group and HDFC life on board with us.”
Shilpa Shetty Kundra, a co-owner of the franchise, unveiled the jersey and presented it to the sponsors Floriana chairman Sanjay Jain and HDFC life executive VP and marketing head and direct sales Sanjay Tripathi.
Tripathi said, “The fact that we are joining hands with Rajasthan Royals for the third consecutive year provides enough evidence of our trust in the franchise. This year we will be seen in our new logo on the back of every RR player. Our association with Rajasthan Royals is aimed at bringing to the fore our common values – self respect or living life with head held high.”
Rajasthan Royals will play their first IPL match on 9 April in Hyderabad and the first home game in Jaipur on 12 April against Delhi Daredevils.
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.
