MAM
RK Swamy wins Shriram Capital media duties
MUMBAI: RK Swamy Media Group has won the media duties of Shriram Capital, a holding company for the Shriram Group‘s financial services entities, following a multi-agency pitch.
The size of the account is pegged at around Rs 100-150 million.
“We perceived RK Swamy‘s strengths in the areas of understanding their clients‘ unique needs and drawing up a positioning framework that appropriately reflects these, thereby creating an excellent platform for distinctly differentiating them in their respective industries,” said Shriram Capital MD GS Sundararajan.
Shriram Capital is seeking to enhance its brand image. RK Swamy will manage the Shriram Capital campaign across multiple media including print, airport displays, online and television.
RK Swamy Media Group president Chintamani Rao said, “The main objective is to establish Shriram as the forerunner in building a very successful business based on financial inclusion. The group is a clear leader in its businesses, and it is our objective to communicate its unique business philosophy to the public.”
RK Swamy Media Group comprises Media Direction, Digital Direction, Hansa Media Services and Hansa Outdoor.
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.
