Brands
TranServ ropes in MasterCard ‘s Salil Mody and MobiKwik’s Ushpinder Singh
MUMBAI: TranServ, a Indian digital payments company, has roped in Salil Mody as SVP corporate strategy and Ushpinder Singh as the SVP and head merchant business. Mody will focus on driving corporate strategy, inorganic growth and innovative initiatives like micro-credits. While Singh will lead the merchants business and will be responsible for sales of the Udio product suite with special focus on API integrations and digital payment solutions of the company.
Speaking on the new appointments, TranServ co-founder and CEO Anish Williams said, “2016 is an important year for us at TranServ. We launched our flagship product Udio, India’s first social wallet, and have been adding interesting features to our Udio product suite for merchants. We have even forayed into the corporate space with expense management solutions, and have also just secured Series C investment from Micromax and IDFC Mutual Funds. We are now aggressively focusing on providing more secure and seamless payment offerings for both our merchants and consumers. By welcoming Salil and Ushpinder, we are looking to leverage their expertise in digital payments to consolidate our leadership position within the Indian market even further. We are confident that their addition will add another dimension to our business strategy and will aid us immensely in our continued growth and success.”
Mody comes with an MBA from the Kellogg School of Management and holds a Master’s degree in computer engineering from the University of California. He comes with experience in the payments space with 8 years at PayPal across Silicon Valley and India. Prior to his joining, he was at MasterCard where he was responsible for market development for South Asia.
On the other hand, Singh comes with 16 years of work experience with 6.5 years in the mobile payments space. Prior to TranServ, he was heading partnership and strategic alliances at MobiKwik. Before venturing into mobile payments, he has worked with various CMM L5 technology consulting companies, both in India and US.
TranServ’s current focus is on corporate and business strategies ensuring a healthy balance between sustainability and growth. The company has also forayed into the corporate space through its small value employee payments delivered via the Udio app and is looking to capture 35 percent of the market by the end of the current fiscal. It has been actively trying to create a more integrated, ubiquitous and holistic mobile payments infrastructure within the country through its innovative tech-based solutions.
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.
