MAM
Carnival Cinemas ropes in Saurabh Saxena as COO
MUMBAI: Carnival Cinemas has appointed Saurabh Saxena as its chief operating officer (COO).
With over 24 years of experience in the hospitality and entertainment industry, Saxena has previously worked in multiplex companies such as PVR, Fame Cinemas (now Inox Movies), Big Cinemas, Cinemax, Wave Cinemas and Sahara Entertainment. Most recently he was with Sahara India as head of entertainment.
Saxena said, “Carnival is a magnificent company with an incredible team, great vision and now on an advantageous position in the film exhibition sector. It is a great honour to join its leadership team and have the opportunity to build on its success.”
After acquiring HDIL’s Broadway, Reliance’s Big Cinemas and Glitz Cinemas, Carnival now has 346 plus screens operating in the country. It has a vision to have 1000 screens in next two years. With presence in metro cities along with tier 2 and tier 3 cities, Carnival Cinemas aims to offer better movie watching experience across the nation.
It is currently present in Kerala, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, Uttar Pradesh and West Bengal.
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.
