MAM
OMEGA begins timekeeping at the Olympic Games Paris 2024
Mumbai: OMEGA’s countdown clock in Paris has finally reached zero, and the Olympic Games Paris 2024 is now underway. Following a colourful opening ceremony in the heart of the host city, the Swiss watchmaker will now begin its role as official timekeeper in all of the 329 events.
For the next several weeks, the world’s greatest athletes will compete in 32 different sports, aiming for the ultimate prizes of gold, silver, and bronze medals. OMEGA has arrived in Paris with 350 tonnes of equipment to support its 550 timekeepers, who will be on-site to measure every second of action, and help determine the official results.
OMEGA president and CEO Raynald Aeschlimann said, “There’s always an incredible energy at the start of the Olympic Games, with so much anticipation for the weeks ahead. OMEGA knows how hard these athletes have trained, and the many hours they have dedicated to their careers. It’s our honour to support them in Paris and be part of their history-making moments.”
This is the 31st time since 1932 that OMEGA will fulfill the role of official timekeeper at the Olympic Games. The brand was originally selected for its reputation in precision, and that quality remains at the heart of its timekeeping service. For the past 92 years, OMEGA has been committed to excellence, innovation, and reliability at the Olympic Games, having developed and evolved many of the critical technologies that athletes, judges, and spectators rely on.
Paris 2024 is the latest milestone in the brand’s legacy. As the sporting events unfold, the OMEGA countdown clock will remain in place at Port de la Bourdonnais, near the Eiffel Tower, as it continues counting down to the Paralympic Games, which begins on 28 August. OMEGA has timed this inspiring occasion since 1992, and will resume its duties once again this summer.
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.
