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Aditi Kothari Desai takes the reins at DSP Asset Managers
MUMBAI: Aditi Kothari Desai has been named chairperson of DSP Asset Managers, stepping into the top job from her father, Hemendra Kothari, who has led the firm since its inception in 1996. Aditi, the fifth-generation custodian of the Kothari family’s financial empire, is also the first woman to lead the firm.
With over 20 years of experience across investments, sales, marketing and digital transformation, Aditi started her career in investment banking at Merrill Lynch, New York. She joined DSP Asset Managers in 2002 and has since spearheaded the firm’s domestic growth strategy, founded its international business, and driven digital transformation. She also chairs DSP’s fintech arm, Compound Express.
A Wharton graduate with an MBA from Harvard, Aditi is determined to uphold DSP’s legacy. “I am honored to take on this responsibility and continue building on our AMC’s legacy. This transition is simply a continuation of the same long-term thinking and investor-first philosophy that has defined DSP’s journey for over 160 years, and I intend to continue our endeavor to make a difference to and elevate as many lives as we can. We are one of the few fully independent family-run firms among India’s top 10 asset managers, and our family continues to invest its own public fund capital into the very funds we manage which speaks to our deep conviction and accountability,” she elaborated.
Her father, Hemendra Kothari, a towering figure in India’s financial sector, is confident in her leadership. Said he: “It has been a privilege to lead DSP Asset Managers since its inception. While I am passing the baton to my dear daughter Aditi, I feel proud to see our family’s legacy continue with a visionary leader who embodies the values of reputation, integrity, and high standards that have guided us for generations. Our unwavering commitment to these principles has been the cornerstone of our success, and I am confident that Aditi will uphold these traditions while leading the firm into a new era of innovation, digitization and growth.”
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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.
