MAM
Adani Sportsline and Indian Olympics Association (IOA) join hands as principal sponsor partners
Mumbai: The sports arm of the Adani Group, Adani Sportsline has become an official partner with the Indian Olympics Association (IOA) for the upcoming Birmingham Commonwealth Games 2022, Hangzhou Asian Games 2022, and Paris Olympic Games 2024. This is the second time that the Adani Group has come on board with IOA. The earliest association was in 2021, when the group sponsored the Indian Contingent during the Tokyo Olympics.
The partnership is an extension of the Adani Group’s sports portfolio that focuses on building a world-class ecosystem to nurture sporting talent, accelerate the sports economy, and play the role of an enabler in India’s journey to becoming a leading sporting nation.
Speaking on the partnership, IOA secretary general Rajeev Mehta said, “We are delighted to welcome Adani Sportsline’s participation in our journey of representing Indian athletes across the global platforms. Corporate participation will help emerging sports stars, allowing India to genuinely become a sporting nation.”
Adani Enterprises director Pranav Adani added, “It is our privilege to support our athletes’ journeys in their quest to bring glory to India. We celebrate this journey through our initiative #GarvHai. The association with IOA is a natural extension of expressing our support for the Indian Contingent.”
It's our privilege to support & celebrate our athletes' journeys in their quest to bring glory to India. The association with @WeAreTeamIndia is a natural extension of expressing our commitment to the Indian Contingent. #CWG2022 #AsianGames #ParisOlympics pic.twitter.com/R2wBdjIzjQ
— Pranav Adani (@PranavAdani) June 30, 2022
Adani Sportsline has supported over 28 athletes through its athlete support initiative, #GarvHai, across a variety of sports. Six of these athletes represented India at the Tokyo Olympics in 2021, and among them was wrestler Ravi Kumar Dahiya, who brought home a silver medal in the 57 kg division. Dahiya has been a part of the #GarvHai Initiative from 2019.
Adani Sportsline also owns teams with prominent Indian and global platforms, including Pro Kabaddi League, Ultimate Kho Kho League, Big Bout Boxing League, and International League T20 (Cricket). It also organises the annual Adani Ahmedabad Marathon, which has now moved up to be among the top four marathons in India.
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.
