MAM
Droom to sponsor MTV Dropout reality show, founder to mentor entrepreneurs
MUMBAI: From Bill Gates to Sachin Tendulkar, people who have become some of the most iconic figures in our country have achieved what they have only because they had strong vision, resilience and courage to back their passion in achieving that vision. In keeping with the same spirit, Droom, India’s pioneering online automobile transactional marketplace has now become the title sponsor for MTV Dropout, India’s first start-up reality show that seeks to find out India’s next big entrepreneur. Sandeep Aggarwal, Founder – ShopClues & Droom is a Chief Mentor to the participants throughout the show, along with the founders of two other Internet startups.
Droom, the marketplace for buying and selling new and used automobiles, has four formats i.e. B2C, C2C, C2B and B2B, and three pricing formats – Fixed Price, Best Offer and Auction.
Aggarwal, who is known to be among the most prolific investors and entrepreneurs in the Indian e-commerce and entrepreneurial environment, is often considered a maverick when it comes to taking tough decisions, showing resilience and building scalable businesses. Once a globally top ranked Wall Street Internet analyst out of Silicon Valley, Aggarwal gave up his comfortable job and a luxurious lifestyle to give fire to his entrepreneurial dreams and create India’s first managed marketplace-ShopClues – in 2011. Since, in his various roles as an angel investor or mentor, he has always strived to extend a helping hand to entrepreneurs with great ideas, ‘grit in their teeth and fire in their belly.’ MTV Dropout is another such venture which aims to finds out India’s next prolific business ideas through the concept of a reality show.
Call for entries from applicants across the country has started. The auditions for the show will be held in Mumbai in the month of May to select the final candidates who will then be divided into teams and judged on the parameters of Drive, Strength of Idea, Planning and Attitude.
Aggarwal said, “During the show, I would try to pass on the trust and the good faith that was bestowed on me and provide whatever experience I have gained into enriching the decisions of the participants to fulfill their dreams. The show has been structured in such a way that it tests all the skills of the participants required to emerge as prospective entrepreneurs and business leaders. From food trucks to corporate events, the participants would need to show their all-round skills, resilience and tenacity apart from continuously working on their individual business ideas. I wish them all the best and look forward to see some great business ideas and interactions on the show soon!”
MTV Dropout will expand the narrow and negative connotation of the word ‘dropout’ to refer to people who have not accepted the pressures of the system but succeeded by pursuing an alternate, non-conventional idea with belief and pride. It invites entries from prospective entrepreneurs as well as ideas rejected in the VC stage to test their mettle in front of the experienced panel of mentors.
Droom MTV Dropout will consist a series of episodes and the teams in the final will present to globally-renowned industrialists, investors and iconic economic personalities such as Ratan Tata, Anand Mahindra, Raghuram Rajan, Ronnie Screwala, Anil Ambani and Azim Premji. These stalwarts will select the one winning team that has the potential to revolutionize the business exosphere of India and further helm its start-up journey to a world of endless possibilities!
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.
