Brands
Castrol associates with KTM to enhance performance
Mumbai: Castrol has teamed up with KTM, a premium motorcycle brand. Castrol POWER1, the company’s performance lubricant will be powering the upcoming second season of its much-awaited KTM Cup 2024 as the official performance partner. This association is strategically aligned with the brand’s increasing focus on driving and strengthening performance motorsports in India. KTM Cup is India’s largest Racing Championship that attracts participation from all over the country.
On this energetic partnership, Castrol India Ltd VP and head of marketing Rohit Talwar said, “I am excited to unveil our dynamic collaboration with KTM as a performance partner. As a first we will be powering the electrifying KTM Cup Season 2. This collaboration epitomizes our dedication to excellence and innovation in performance engine oils. By joining forces, we’re not just sponsoring a race but unleashing the full potential of KTM riders and machines alike. Get ready to witness the fusion of speed, precision, and endurance as Castrol’s cutting-edge technology meets the challenge of the track. This tournament will redefine the limits of performance, showcasing the unrivalled capabilities of Castrol in powering the KTM champions to victory.”
On this collaboration, Bajaj Auto Ltd president and BU head-probiking (KTM) Sumeet Narang said, “The second season of the KTM CUP represents KTM’s ongoing commitment to fostering a vibrant racing culture among enthusiasts. With over 1,000 proud KTM owners participating in the inaugural season, we’re excited to continue this journey with even greater fervor. As racing lies at the core of KTM’s DNA, boasting an impressive 341 plus world championship titles across various formats, our collaboration with Castrol engine oils as our Performance Partner further solidifies our dedication to excellence on the track. Together, we’re set to welcome women and amateur riders, fulfilling our promise of nurturing talent and turning ambitious enthusiasts into seasoned pro-bikers. As anticipation mounts for another adrenaline-fueled racing extravaganza, we invite fans across India to join us in the excitement of KTM CUP Season 2, where the thrill of racing awaits!”
The on-ground selections for India’s largest racing championship will be held in four cities starting from Coimbatore on 22 to 24 March, Delhi on 13 and 14 April, Mumbai from 26 to 28 April, and Kolkata on 11 and 12 May 2024.
Castrol’s long-standing legacy in moto-sports led to the development of Castrol’s POWER1 lubricants, designed specifically to enhance performance of motorcycles. The association with KTM Cup 2024 will substantially exhibit the power and prowess awarded by Castrol POWER1 range of lubricants. After rigorous pan-India selections and final race, the final winners of the KTM Cup 2024 will have a chance to be trained by MotoGP legends and champions at the Red Bull Ring in Spielberg, Austria.
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.
