MAM
CoinDCX appoints Divakar Prayaga as senior VP & head of information security
Mumbai: Crypto exchange and unicorn CoinDCX has announced the appointment of Divakar Prayaga as senior vice president and head of information security.
Prayaga will play a key role in building, scaling and sustaining CoinDCX’s industry-leading security systems, enabling customers to enjoy a seamless and safe trading experience. He was formerly the head of cyber defence at e-commerce giant Flipkart and the vice president of Cybersecurity at Wells Fargo and brings his wealth of expertise from the traditional financial sector to the future of finance, forging greater trust and credibility within the wider crypto and blockchain industry.
In this new role, Prayaga will now steer CoinDCX’s information security strategies and governance processes and spearhead an inclusive and comprehensive data protection programme to support development, research, and administrative information systems and technology. At the same time, Prayaga will chair the Information Security Advisory Committee and lead the Information Security Liaisons, championing information security within the crypto and blockchain industry, said the company in a statement.
Commenting on Divakar’s appointment, CoinDCX co-founder Neeraj Khandelwal said, “In the digital-first world of crypto and blockchain, information security is critical to ensuring customers enjoy uninterrupted access to digital assets and a safe trading experience. Divakar will be the lynchpin in advancing CoinDCX’s security systems and furthering our position as India’s safest crypto exchange, fostering a security-first approach for the sector at large.”
Prior to joining CoinDCX, Prayaga has had an extensive career building and scaling information security and cybersecurity protection for global conglomerates and Fortune 500 companies from the likes of Wells Fargo, Wipro, Unisys, and IBM.
Speaking on his appointment, Divakar Prayaga said, “With crypto being at the forefront of the future of finance, I am thrilled to step into an exciting sector to enhance CoinDCX’s security posture and contribute to the industry’s developing information security landscape. As the crypto and blockchain industry is underpinned by digital technologies, information security is more paramount than ever to protect customers and companies alike from cyber-attacks and exploits.”
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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.
