MAM
Mattel toys India appoints Sanjay Luthra as MD
MUMBAI: Mattel Toys India Pvt Ltd has appointed Sanjay Luthra as its new managing director. The leading toy manufacturer in the world is a 100 per cent subsidiary of Mattel Inc.
Prior to being appointed MD, Luthra was the sales director of Mattel Toys India. As MD, Luthra will be responsible for the overall operation of all Mattel India brands including Barbie, Hot Wheels and Fisher Price. He would also be responsible for Mattel distributor operations in Nepal, Sri Lanka, Pakistan, Bangladesh, Maldives and Mauritius, says a company release.
While he was sales director, Luthra led several assignments on sales, corporate and brand strategies for the company. He has over 13 years of selling and marketing experience. Before joining Mattel Toys, he was associated with Escorts – Yamaha two-wheelers, Bausch & Lomb – Rayban Sunglasses and Business Standard, the release says.
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.
