MAM
Balesh Sharma becomes CEO of merged Vodafone-Idea entity
MUMBAI: Vodafone Group and Aditya Birla Group have announced the proposed new leadership team of the merger between two major telecom operators of India – Vodafone India and Idea Cellular.
Balesh Sharma who is currently the chief operating officer of Vodafone India will become the CEO of the merged entity. He joined Vodafone in 2003 and over the years, has held several senior management positions in India and internationally.
Idea Cellular CEO Kumar Mangalam Birla will become the non-executive chairman of the merged Company.
Sashi Shankar, who is currently the chief marketing officer at Idea, will be responsible for marketing and brand strategy for the consumer business.
Anil Tandon and Rajat Mukherjee, currently head of technology and head of corporate affairs of Idea will be full time advisers to the merged business in their respective areas of expertise, working closely with Vishant Vora and P Balaji, respectively.
The appointments will come into effect after the merger is completed.
Vodafone Group Plc and Idea Cellular announced the proposed leadership team of the combined business, which will come into effect after the merger has been completed. This is in line with the original merger announcement of March 20, 2017, which said that the management team of the combined business would be confirmed prior to closing.
This is in line with the original merger announcement of 20 March 2017, which said that the management team of the combined business would be confirmed prior to closing.
The existing leadership teams of Idea Cellular and Vodafone India will continue to manage their separate businesses and be accountable for each company’s operational performance until the merger becomes effective.
It is only upon completion of the merger that the two businesses will cease to operate as distinct and competing entities.
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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.
