MAM
KnightsAD expands to Sri Lanka and Middle East
MUMBAI: KnightsAD Digital Media Associates recently announced its foray into Sri Lanka and the Middle Eastern markets of the UAE, Kuwait and Qatar. The company has seen close to 20 per cent month-on-month growth since its launch in January 2016 across India markets.
KnightsAD CEO Malik Gilani said, “We are ecstatic to announce our global expansion. We hope to provide our partners a global platform and extended reach.”
With Sri Lanka featuring among the top 10 countries in the world for mobile advertising growth (source, ExchangeWire) and the Middle East showing a growing mobile e-commerce trend (source, Adotas), the markets are ripe for content players to leverage this growth by extending their mobile and WAP advertising reach.
KnightsAD has partnered with leading telecoms and content companies in Sri Lanka and the Middle East; telecom partners include Oreedoo in Kuwait and Qatar, DU in the UAE as well as Dialog in Sri Lanka. With a conversion rate of up to 75000 a month, KnightsAD has quickly become one of the networks with the highest success rates and now widest reach.
With this expansion, the company hopes to replicate the success they have seen in India for content partners like Hungama, Nazara, Mauj and Saregama, to name a few.
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.
