Brands
Cars24 promotes Himashu Ratnoo to CEO C2B & retail business
MUMBAI: He’s gotten into the driver’s seat at Used Cars India, autotech platform Cars24’s C2B and retail businesses. Himanshu Ratnoo’s elevation as Used Cars India’s CEO was announced in an internal email to the company by Cars24 founder & CEO Vikram Chopra.
In his new role, Ratnoo will oversee the company’s C2B and retail operations, focusing on scaling growth and driving innovation.
Renowned for his “founder mindset,” Ratnoo has played a pivotal role in Cars24’s success, Chopra said in the email. His transformative initiatives include the development of franchise models, lead monetisation strategies, and a revamped approach to luxury car transactions. Additionally, he has successfully expanded value-added services that enhance customer experiences, aligning with Cars24’s vision to simplify car ownership.
Chopra commended Ratnoo’s leadership, emphasising his alignment with the company’s core values and his vision to make car ownership seamless and rewarding.
“Ratnoo will focus on building a world-class, engineering-first organisation, scaling revenues and profitability, creating a happy and thriving workplace for our frontline teams, and nurturing the next generation of leaders who will define Cars24’s future,” said Chopra.
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.
