Cable TV
Den Networks disputes Rs 38 crore GST orders, plans legal appeal
MUMBAI: Den Networks Limited has found itself in the middle of a tax showdown, with authorities in Lucknow and Kochi slapping it with two Goods and Services Tax (GST) penalties totalling nearly Rs 38 crore. The company, however, has strongly refuted the allegations, calling the orders erroneous and confirming plans to file appeals against them.
Dismissing both allegations, Den Networks has reiterated that these tax demands do not impact its day-to-day operations, and that the financial exposure is limited to the penalty amounts. The company remains confident of a favourable outcome in the appeals process. With a legal battle looming, the GST dispute is far from settled Den Networks is preparing to make its case, challenging the tax authorities’ interpretation in an attempt to reverse the penalties and clear its name.
The first order, issued by the CGST and Central Excise Commissionerate, Lucknow, on 31 January 2025, imposed a penalty of Rs 4.75 crore under Section 74 of the Central Goods and Services Tax Act, 2017 and the Uttar Pradesh Goods and Services Tax Act, 2017. Tax authorities claimed that Den Networks had wrongfully adjusted deferred revenue for FY 2017-18, allegedly leading to lower GST payments. The company insists this assessment is incorrect.
The second order, passed by the CGST Kochi Commissionerate on 3 February 2025, demanded a staggering Rs 33.25 crore in differential tax, along with an equal penalty amount under Section 122(2)(b) read with Section 74(9) of the Central Goods and Services Tax Act, 2017, and corresponding Sections of the Kerala State Goods and Services Tax Act, 2017, for the period from July 2017 to March 2022. The dispute centres on how GST should be applied—tax authorities argue it should be charged on the total amount collected by local cable operators (LCOs) from subscribers, rather than on the revenue received by Den Networks from LCOs. The company maintains that it has calculated and discharged GST correctly as per regulatory norms.
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
