MAM
Chennai Open Tennis: Sponsorship deals signed
MUMBAI: Tamil Nadu Tennis Association (TNTA) has finalised the sponsorship deals for South Asia’s only ATP International series event, the Chennai Open. TNTA has roped in Government of Tamil Nadu, Indian Bank, Indian Overseas Bank and United India Insurance Company as the Platinum sponsors.
The Gold sponsors will be Chennai Petrolium Corpoation Ltd, Larsen & Toubro, Murugappa Group, MyTVS, Saint-Gobain and Steel Authority of India.The tourney will be held from 2 January to 8 January. Global sports marketing company IMG/TWI is in charge of the event.
According to an official release, the line-up that will battle to start the new ATP Champion’s Race on a winning note includes the reigning French Open champion and world number two Rafael Nadal, the defending champion Carlos Moya, and Asia’s top-ranking player and 2003 champion Paradorn Srichaphan.
TNTA president V. Narayanan said, “As you may be aware, a consortium of sponsors was jointly put together by the Government of Tamil Nadu and the Tamil Nadu Tennis Association to sponsor the Chennai Open for five years, starting from 2005 until 2009. We would like to thank and are greatly indebted to all the sponsors for their spontaneous support to this mega event for the second year running. Their commitment to the cause of Indian tennis and to the promotion of Chennai is commendable.”
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.
