MAM
Deloitte turns the page as Ritwick Udayan steps in to drive big rewrites
MUMBAI: When growth stories need a rewrite rather than a quick edit, Deloitte has made a decisive hire. The consulting major has appointed Ritwick Udayan as executive director, adding senior firepower to its leadership bench in growth strategy, portfolio transformation and large-scale business turnarounds. The move signals a sharper push towards market-led, experience-based decision-making as clients across tightly regulated sectors look for sustainable performance gains rather than short-term fixes.
In his new role, Udayan will work across sectors such as education management, healthcare and BFSI, focusing on governance, operational discipline and long-term value creation. His mandate centres on helping organisations navigate complexity, improve performance and make decisions rooted in both data and lived customer experience.
Udayan brings more than two decades of leadership experience spanning energy, education, healthcare and financial services. Most recently, he served as global head of HMG business at Husk Power, where he led mini-grid operations across India, Nigeria, Sub-Saharan Africa and the US, managing scale, profitability and cross-market execution. Earlier stints at Timespro and Healthspring saw him oversee P&L responsibilities, digital transformation programmes and customer experience strategy in fast-evolving consumer-facing businesses.
His grounding in financial services runs deep. Over several years with the ICICI Bank Group and Star Union Dai-ichi Life Insurance Company, Udayan worked across retail banking, lending, product and channel management and bancassurance, building a track record in scaling businesses and leading high-performance teams in regulated environments.
At Deloitte, that mix of operational rigour and transformation experience is expected to play a key role as clients rethink portfolios, sharpen governance and recalibrate growth strategies amid tighter scrutiny and shifting market dynamics. In an era where steady hands matter as much as bold ideas, Deloitte’s latest appointment suggests it is betting on both.
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.
