MAM
Hero Honda to sponsor Asian team in Afro Asia Cup 2005
MUMBAI: Hero Honda, which has been a long time supporter of Indian and ICC cricket has signed on as team sponsor of the Asia team in the Afro Asia Cup 2005.
Hero Honda has had a long standing association with Indian cricket. In 1993 Hero Honda sponsored the India – Sri Lanka test series and following up strongly, launched the Hero Cup in 1993 in which India triumphed under Mohammed Azharuddin’s captaincy.
Hero Honda Ltd. MD Pawan Munjal said, “I am delighted that Hero Honda is now associated as team sponsor of such a powerful all-star Asia Team. Hero Honda believes in cricket, both at national and international level, and the Afro Asia Cup provides a new and intercontinental dimension to our association with the sport.”
Hero Honda has strengthened and built its association with Indian cricket through ongoing sponsorship of BCCI and ICC Cricket.
Hero Honda was an official sponsor of the ICC Cricket World Cup, South Africa – 2003, and is now a global partner of ICC Cricket upto and including the ICC Cricket World Cup – West Indies, 2007.
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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.
