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Amit Ganorkar gets back to Tata AIG General Insurance as MD & CEO
MUMBAI: He’s ensured his career by being in the insurance business for most of it. Amit Ganorkar left Tata AIG General Insurance in Mumbai after a three year and a half year stint between December 2019 and April 2023 as president & chief operating officer to join Royal Sundaram General Insurance in Chennai as its managing director.
A year and eight months later Amit is back in Mumbai to his previous organization – Tata AIG as its managing director & CEO. With 20 plus years in the general insurance industry being exposed to sales, distribution, product, marketing operations, and technology, it’s good he has got to the top.
He even took a shot at turning entrepreneur by raising capital and applying for general insurance licence, something which kept him pre-occupied for two and a half years between August 2017 and December 2019.
The bachelor of engineering graduate from VJTI Mumbai, and an MBA in marketing, was the chief marketing & distribution retail business officer at Reliance General Insurance for nearly four years between October 2013 and August 2017 , the second longest time he had worked with any firm. The longest duration for him was when he was with ICICI Lombard General Insurance for 10 years and one month, from which he exited as a national sales manager direct sales in 2013.
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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.
