MAM
5paisa onboards Ameya Agnihotri as chief technology officer
Mumbai: 5paisa Capital Ltd, one of India’s largest digital discount brokers, has hired former Uber and Paytm executive Ameya Agnihotri as chief technology officer (CTO).
Prior to joining 5paisa, Ameya Agnihotri worked with Paytm (One97 Communications) leading technology at Paytm’s fast-growing travel division, leading a team of 110 engineers. He was instrumental in building digital platforms for various industries across continents successfully in the last seventeen years. Ameya has earlier worked with Berlin headquartered Zeotap as CTO, besides stints at Uber, Pub Matic and Veritas. He completed his Masters in Computer Application from University of Pune.
Commenting on the appointment, 5paisa Capital MD & CEO Narayan Gangadhar said, “I am very excited to welcome Ameya to the 5paisa team. Ameya is a standout and well respected technology leader with decades of experience building innovative technology products. His stellar background in building teams, large scale digital products and deep understanding of the evolving tech ecosystem will help us attract top talent and greatly accelerate our digitization efforts. Ameya will be based in Bangalore and lead our engineering center where we continue to attract top talent from the tech industry.”
Commenting on the appointment, Ameya Agnihotri said, “5paisa has already built a fantastic platform and has been among leaders in the digital discount broking space. I am really excited to be a part of this innovative company and offer my experience in building some of the greatest products and platforms in investing space.”
5paisa Capital is one of India’s largest discount brokers with an overall customer base of over 3.7 million. The 5paisa mobile app is used by over 16 million investors and enjoys a rating of 4.3 stars. 5paisa Capital is backed by marquee global investors Fairfax, Ward Ferry, and RIMCO.
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.
