MAM
BharatPe ropes in Suresh Raina as brand ambassador
NEW DELHI- Suresh Raina is ready to play for Chennai Super Kings (CSK) in the United Arab Emirates for the Indian Premier League (IPL) 2020. Meanwhile, he has been appointed as the brand ambassador for the fintech platform BharatPe. Before flying off to UAE, Raina has decided to shoot for the brand’s promotional campaign.
Raina who had announced his retirement from the international cricket along with MS Dhoni, uploaded the video of the promotional shoot.
Earlier in the month of March, flush with Rs 535 crore ($75 million) Series C funding, BharatPe had announced its plans to sign 11 Indian national cricketers as its brand ambassadors. Some of these cricketers are Rohit Sharma, KL Rahul, Suresh Raina, Ravindra Jadeja, Jasprit Bumrah, Sanju Samson, Mohammed Shami, Yuzvendra Chahal, and Shubham Gill.
However, due to the novel coronavirus, the Delhi based platform could not start any activity with the signed cricketers.
Prime Minister Narendra Modi also highlighted Raina's contribution in the 2011 World Cup triumph, saying the all-rounder had always been a team man. Modi said Raina’s name is ‘synonymous’ with ‘team spirit’.
Co-founded in 2018 by Ashneer Grover and Shashvat Nakrani, the startup is working towards driving the adoption of UPI among merchants, as well as providing them with working capital loans.
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.
