MAM
Bridgestone takes World Series Hockey title sponsorship
MUMBAI: World Series Hockey co-promoter Nimbus Sport has roped in Bridgestone as the title sponsor of the franchise-based hockey league for the first season of the tournament.
This is the second major sponsorship of Bridgestone in sports in India; the company is the associate sponsor of IPL team Mumbai Indians till 2014. Globally, the tyre brand is also associated with National Football League, National Hockey League and the World Golf Championship.
The Bridgestone World Series Hockey will be held from 29 February to 2 April and will involve 200 leading players — Indian and international — who will showcase their talent in 59 matches.
The eight WSH teams are Bhopal Badshahs, Chandigarh Comets, Chennai Cheetahs, Delhi Wizards, Karnataka Lions, Mumbai Marines, Pune Strykers and Sher-e-Punjab.
The league carries a total prize purse of Rs 100 million.
The eight venues for the inaugural edition of the league are Bangalore, Bhopal, Chandigarh, Chennai, Delhi, Jalandhar, Mumbai and Pune. Chandigarh Comets will face-off against Bhopal Badshahs in the first tie of the tournament on their home ground.
The organisers had earlier roped in Suniel Shetty as the brand ambassador for the tournament.
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.
