MAM
Aviva Life Insurance to open 13 new branches in 2005
BANGALORE: Aviva Life Insurance has embarked on expansion plans. The company is opening 13 new branches in the year 2005, taking its current strength from 24 to 37 branch offices.
The 13 new branches are slated to open in Chandigarh, Delhi (2 locations), Hyderabad, Mumbai (2 locations), Chennai, Nagpur, Kolkata, Bangalore, Vishakapatnam, Bhubhaneshwar and Goa.
Speaking on the occasion, Aviva Life Insurance MD Stuart Purdy said, “In the last three years we have focused on building a well trained Direct Sales Force that offers quality advice to customers. We are delighted that we are further expanding our presence and we will now be opening 13 new branches taking our total strength to 37. To service our customers better we will also be doubling our sales force strength in the current year.”
Aviva has been trying to establish its presence in the Indian market by adopting a differentiated approach to sales, distribution, marketing and product strategy. They claim to have more than doubled their business and their field force capacity has already increased to 5000 FPAs.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
