MAM
Srinivas appointed managing director, LiquidThread APAC & chairman SMG India
MUMBAI: Starcom MediaVest Group has appointed CVL Srinivas as MD of LiquidThread APAC and Chairman of Starcom MediaVest Group, India.
Based in New Delhi, Srinivas will take charge with effect from 5 January.
Srinivas will report to SMG president, global operations Andrew Swinand and LiquidThread, SMG president and managing director Brian Terkelsen. He will also work closely with Srikant Sastri, Country Chair, VivaKi India and will be a member of the SMG global management group.
Said Andrew Swinand, “We are delighted to have found an extraordinary leader for SMG India and for our growing LiquidThread operations in APAC. Srini brings with him nearly two decades of business experience and we are excited about him being part of the SMG family. We are confident that he will make a strategic difference to our India business and drive the Human Experience Company philosophy.”
On his new role, Srinivas said, “SMG‘s promise to be the Human Experience Company is fascinating and future-focused. I look forward to working closely with the teams at LiquidThread and SMG to translate this vision into tangible value for our clients”.
Earlier Srinivas has worked in agencies such as Madison Media and Maxus. His latest assignment was at The Times Group as Director, Private Treaties.
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.
