MAM
Bridgestone India’s MD Parag Satpute dons global role
Mumbai: Tyres and sustainable mobility solutions provider Bridgestone India has announced that its managing director, Parag Satpute, will be assuming a new global role in Bridgestone’s Solutions business and will be stationed in Amsterdam, Netherlands. He is succeeded by Stefano Sanchini, who will assume Satpute’s role at Bridgestone India. These leadership changes will be effective 1 January 2023 onwards.
Satpute assumed the role of managing director of Bridgestone India in November 2017. It was during his tenure that Bridgestone India reinforced its position in the Indian market and gained a leadership position. In recent years, the company has expanded its operations in terms of capacity as well as expertise, launching a solutions business and tyre-as-a-service for its customers.
On his move into a global role, Satpute said, “It has been an enriching experience heading Bridgestone India and working alongside a dedicated team that saw Bridgestone India gain leadership in the Indian market. The last few years have been as rewarding as they have been challenging, and I am pleased to see the fruit of our efforts. I am also excited and looking forward to contributing towards Bridgestone’s ambitions as a global leader in mobility solutions.”
Sanchini moves from his current role as vice president for the region of the Middle East & Africa (MEA). He will take up the position of managing director, Bridgestone India, and will be based out of Pune, India. Sanchini has been with Bridgestone since 2017 as sales director for MEA and was appointed vice president of region for MEA in 2019.
“I am looking forward to working in India. India is one of the most diverse markets, and it comes with its own challenges, which the current team has remarkably addressed. As we move into new technologies and mobility solutions, the Indian market is going to be a focus area, and I am happy to be here as we spread out these solutions to the vast Indian customer base,” said Sanchini.
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.
