MAM
No media stars in ET corporate excellence awards for ’02-03
MUMBAI: Younger business leaders and successful women entrepreneurs who have given something back to society have been given The Economic Times awards for corporate excellence 2002-2003. However, no media industry head-honcho or company has made it to the top eight list.
The awards presentation will be held in October in Mumbai, when over 300 high-profile dignitaries will gather to salute the winners.
An official release says that the awards intend to recognise and salute the spirit of excellence in corporate India. The list of the eight professionals that the high-profile jury picked to claim the title of ‘the best of the brightest’ in India Inc for ’02-03 comprise AV Birla group chairman Kumar Mangalam Birla. At 36 he is the youngest ever to be ET’s ‘business leader of the year’.
Deepak Parekh of HDFC is the youngest ever to receive ‘The ET award for lifetime achievement’, following the likes of Dhirubhai Ambani and Verghese Kurien. The ‘company of the year’ was awarded to Ranbaxy, India’s pharmaceutical pioneer which invested in R&D when few did.
The award for the ’emerging company of the year’ will go to the Citibank promoted i-flex Solutions, whose banking software product has been tried and tested around the globe. The ‘entrepreneur of the year’ award will be bagged by VG Siddhartha for creating a national brand and lifestyle chain Cafe Coffee Day from a commodity business.
The winner for ‘the businesswoman of the year’ is Ela Bhatt, for creating the mammoth business network – SEWA.
In the newest category, introduced this year, for ‘global Indian of the year’, the award was bagged by Amar Gopal Bose who is the legendary creator of the world’s greatest sound systems. The Godrej Group emerged as the ‘corporate citizen of the year’, for its long and proven contribution to the social sector.
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.
