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PNB Housing Finance names Mukesh Agarwal chief sales officer, retail
MUMBAI: PNB Housing Finance has elevated Mukesh Agarwal to the role of chief sales officer, retail, marking a significant leadership move as the lender sharpens its focus on retail expansion.
Agarwal brings with him nearly two decades of deep, hands-on experience across credit, risk and retail banking. He has spent over 14 years at PNB Housing Finance, steadily rising through the ranks and building a reputation as a steady operator with a sharp eye for both growth and governance.
Before taking charge of retail sales in August 2025, Agarwal led credit and policy for the company’s affordable housing business, a role that placed him at the intersection of risk management and market expansion. Earlier, as national credit head, he oversaw portfolio quality, stakeholder alignment and P&L responsibilities across regions. His journey within the organisation also includes stints as zonal credit manager for North India and regional credit head for mortgages, giving him a ground-up understanding of the business.
Agarwal’s career began in the mid-2000s with Sahara India, where he handled internal audits for its para-banking division. He then moved through credit-focused roles at IndusInd Bank, ICICI Bank and Standard Chartered Bank, working across auto loans, two-wheelers and mortgages. This breadth of experience has shaped a leader equally comfortable with numbers, people and strategy.
In his new role, Agarwal is expected to bring a credit professional’s discipline to the sales function, blending growth ambitions with risk awareness. For PNB Housing Finance, the appointment signals a bet on seasoned insiders who know the business inside out and can translate experience into momentum.
For Agarwal, it is a natural next chapter, moving from guarding the balance sheet to powering the front line, with retail customers firmly in focus.
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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.
