Brands
Brands celebrate Asian Games 2023 with full fervour on Sony LIV
Mumbai: India’s remarkable resurgence in the global sporting arena is a testament to its status as a multi-sport powerhouse. The captivating narratives and exhilarating moments in sports have long been a source of inspiration and entertainment for people of all ages. Recognising the fervour and enthusiasm of viewers, renowned brands such as EatFit, Maruti Suzuki India Ltd, JSW, ACKO, and Limca Sportz have forged powerful collaborations with Sony LIV for the Asian Games 2023. These partnerships serve as a resounding expression of solidarity with and support for Indian athletes who are set to compete on this prestigious platform.
EatFit, Maruti Suzuki India Ltd, and JSW have come on board as co-presenting sponsors and will have a prominent presence within in-studio showcases to drive deep associations. JSW aims to shed light on India’s multi-sport achievements and showcase JSW-sponsored athletes. ACKO has come on board as co-powered by sponsor and will present highlights and introduce the ‘ACKO Changemakers’ series on Sony LIV. Furthermore, Limca Sportz is a Hydration Partner and will present ‘Unstoppable Player of the Day’, while RBI has exclusive rights to top moments. These collaborations promise engaging content and unique branding opportunities, enhancing the brand’s messaging among the audience.
The Asian Games is poised to be a significant one for India, as a total of 655 Indian athletes will be competing in 41 disciplines. After 19 years, Asian Games will feature T20 tournament, where Indian men’s and women’s cricket teams will be making their debuts, giving many more reasons for viewers to be glued to their screens this year.
Sony LIV head ad sales revenue Ranjana Mangla: Over the last few years, Sony LIV has proved to be a trusted and seamless partner for streaming multi-sporting properties, and the Asian Games is one of the world’s most prestigious tournaments. Our coveted list of sponsors shares our passion for sports, with some renewing with us and others signing up for the first time. Each of them keenly wants to connect with a young and affluent subscriber base that makes us a strategic choice for their communications.
Curefoods founder Ankit Nagori: I am thrilled to announce our partnership as a co-presenting sponsor for the Asian Games 2023 on Sony LIV. This exciting collaboration exemplifies the immense potential for brands to elevate their presence through multi-sports tournaments. In the spirit of competition and unity, we look forward to a journey that not only fuels athletic excellence but also nourishes brand association, bringing together the worlds of health, fitness, and sports in perfect harmony.
JSW Sports founder Parth Jindal: We are proud of our sponsorship of Team India at the Asian Games 2022, reinforcing our commitment to sporting excellence in the nation. This support extends through our Inspire Institute of Sport, Vijayanagar, which propelled 25 athletes to represent India at Guangzhou. ‘RukNa Nahi Hai’ is a rallying cry for sports to inspire and unite India’s diverse landscape.
As proud sponsors, we look forward to Team India’s performances, donning the JSW jersey and embodying our brand’s determination and excellence. Through this partnership with Indian Olympic Association, and in collaboration with Sony LIV, we aim to foster a culture of sportsmanship, determination, and excellence for future generations”.
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.
