MAM
Adfactors PR expands capital market team with senior appointments
MUMBAI : Adfactors PR has reinforced its Capital Market Communications Group (CMCG) with the appointment of five senior professionals. The move is aimed at enhancing the firm’s capabilities to meet the evolving needs of clients in India’s dynamic capital markets.
The five new appointees by CMCG Adfactors PR are senior vice president Ajaya Sharma, senior vice president Prosenjit Ghosh, group head, capital markets Anisha Jain, and vice president Lalit Jaisingh bring extensive experience from diverse fields, including media, public relations, credit rating, research, investment banking, and consulting Himanshu Sharma. Their collective expertise is expected to add depth and strategic insight to the firm’s market communication initiatives.
Adfactors PR CEO & head Nijay N Nair remarked, “We are strengthening our Capital Market Communications Group as part of our continuous efforts to expand our expertise and reach. This is essential to effectively meeting the diverse and intricate demands of our clients in India’s ever-evolving capital market environment.”
Adfactors PR co-founder & managing director Madan Bahal further stated, “As the country’s leading public relations firm, we see it as our duty to anticipate and adapt to the evolving needs of corporate India. Our long-term vision ensures that we remain relevant in supporting the dynamic Indian capital market and the broader economy.”
Times Network (ET Now and ET Now Swadesh) former senior editor and markets & anchor Ajaya, Crisil former director, key account management & business development Acuité Ratings & Research and former group chief business officer Ghosh, Ernst & Young former director & M&A Himanshu, ET Now former senior news anchor, deputy editor, & head of research Jain, Concept Public Relations former senior vice president & team lead Jaisingh.
With these appointments, Adfactors PR continues to strengthen its leadership in financial communications, reinforcing its commitment to delivering cutting-edge solutions in an ever-evolving market landscape.
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.
