Brands
IPL 2022: Capri Global signs multi-year partnership with Gujarat Titans
Mumbai: Capri Global has signed a multi-year partnership with the Gujarat Titans, the newly formed Ahmedabad-based franchise in the Indian Premier League (IPL).
The Gujarat Titans will debut in the 15th season of the IPL. The partnership will see the Capri logo on the right chest of the Gujarat Titans’ official team jerseys.
“As the latest entrant into the IPL, the zeal to make a difference in a highly competitive cricket environment provides a unique opportunity for Gujarat Titans,” said Gujarat Titans chief operating officer Arvinder Singh. “We are happy to associate with Capri Global, a company that has been working successfully in India’s financial sector over the years. This strategic tie-up builds on the ethos of both brands, as both are poised for growth in their respective fields. Our joint debut in the IPL aims to pay tribute to the state’s rich cricketing legacy.”
Promoted by first-generation entrepreneur Rajesh Sharma, Capri Global has varied interests across sectors including key ventures such as a non-banking financial company, stressed assets fund and sports venture. Its subsidiary Capri Global Capital is a non-deposit-taking systemically important non-banking financial company with a $ one billion+ market cap, said the statement.
“Capri Global is happy to associate with Gujarat Titans,” said Capri Global Capital Limited managing director Rajesh Sharma. “We are at the cusp of introducing a new business vertical and through this partnership, we want to reach out to different audiences and create more awareness about our brand. We are confident that this association with Gujarat Titans will give an impetus to our brand recognition and recall. Gujarat has always been one of the key markets for us and the debut of Gujarat Titans marks our debut too in the IPL.”
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.
