MAM
Tata wins premium logo position on Jordan race cars for F1 Grand Prix ’05
They took the gamble in 2001, when India’s biggest
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corporate entity decided to back a ‘dark horse’ called Narain Karthikeyan. Now they are gearing to reap the rewards. The Tata Group’s logo has been assigned premium positions (refer diagram pics) on the Team Jordan automobiles that will race in the 2005 Formula One Grand Prix. The Tata Group’s logo will also find prominence on the helmets and the racing gear of the two drivers: Narain Karthikeyan and Tiago Monteiro.
The $14.2 billion Tata group has also been classified as the “Official Sponsor” of Team Jordan. The Jordan Car will be unveiled on 25 February in Russia. The Formula One 2005 calendar flags off with the Australian Grand Prix on 6 March.
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This also marks the beginning of a new chapter in the group’s endeavor to cultivate a global brand for itself; as F1 is a huge platform, globally. According to Romit Chaterji, vice president, corporate affairs, Tata Services Ltd, the group has a three dimensional approach towards leveraging the opportunity. Says Chaterji, “Within international markets it gives us two options. One, the world over, it starts creating the Tata name. Secondly, the magnitude of the whole F1 platform allows an opportunity which enables us to bring customers, business associates and key clients to the ring and offers excellent networking opportunities.”
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According to Chaterji, “In India, people feel good about the Tatas. And, Narain being the first Indian to drive at the F1 will definitely snap in a sense of pride and jubilation. Consequently, we will try and capitalize on this as much as possible through events, advertising and other ground activities.”
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Karthikeyan, supported by the Tata Group, BPCL and some other leading business houses, has demonstrated consistent performance in the Nissan World series recording wins in Magny Cours, France and Valencia, Spain, which are Formula one circuits.
Karthikeyan has earlier also test-driven for Formula One teams of Jordan, Jaguar and Minardi and has impressed one and all with his speed and determination to compete at the highest level.
Formula One team Jordan specifics:
– Team: Jordan
– Formed in: 1991
– Team Principal: Alex Schneider / Eddie Jordan / Trevor ……………………Carlin
– Drivers: Narain Karthikeyan / Tiago Monteiro
– Chassis: Jordan EJ15
– Engine: Toyota
– Tyres: Bridgestone
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.
