Brands
Akasa Air co-founder Neelu Khatri steps down after shaping airline’s take-off
NEW DELHI: Neelu Khatri, co-founder and senior vice-president at Akasa Air, is stepping down after more than five years at the airline, bringing to a close a defining chapter in the life of India’s youngest carrier.
Khatri joined Akasa at inception in November 2020 and played a pivotal role in turning the airline from concept to commercial reality. Her tenure spanned the launch phase, network build-out and operational stabilisation, guiding teams through turbulence in one of the world’s most competitive aviation markets.
In a farewell message, Khatri credited Akasa’s rise to its people-“Akasians”-for building the airline from the ground up with discipline, empathy and resolve. She also thanked customers for their trust, saying their feedback helped refine the product as the airline committed to improving every day.
Akasa, which still has 196 aircraft to be inducted under its existing order book, is entering what Khatri described as a sturdy new phase of growth. “Akasa as a brand has truly arrived,” she said as she signed off with pride and gratitude.
The departure was marked by an emotional gesture from colleagues, who presented her with a keepsake fashioned from an aircraft engine blade removed after a bird strike—a symbol of shared battles and hard-earned milestones.
Before Akasa, Khatri served as president of Honeywell Aerospace India, leading strategy and business growth. Earlier roles include executive director positions at Pipavav Defence & Offshore Engineering, head of defence and security advisory services at KPMG, and a 16-year career in the Indian Air Force, where she rose to the rank of wing commander.
As Akasa readies its next leg of expansion, Khatri leaves behind a culture of execution, accountability and belief—proof that the airline’s formative years were built not just on aircraft and routes, but on people and purpose.
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.
