Brands
CEAT INDIAN supercross racing league reveals rider auction details and extends brand opportunity
Mumbai: The CEAT Indian Supercross Racing League 2024 has announced the roster for its upcoming rider auction in Pune on 7 January, 2024. CEAT ISRL is the supercross series that transcends geographical boundaries, attracting champion riders to showcase their talent and etch their names on the global best chart. The league is extending a unique opportunity for brands to be part of the high-octane excitement of off-road racing during its inaugural season.
The auction pool will feature a total of 104 riders, including 73 international racers slated to race in India for the first time and 31 Indian riders. Each team is allowed up to 2 riders per category, with a maximum of 48 slots available.
The cumulative auction kitty in the mega rider auction for season one totals Rs 6 CR, marking a significant milestone.
CEAT ISRL director & co-founder Eeshan Lokhande expressed his enthusiasm for this mega auction happening in India for the first time. “The league’s decision to host a rider auction signifies its commitment to transparency and accountability in its recruitment process. This move will undoubtedly enhance the league’s credibility and promote a fair and level playing field for all participants and franchise owners.”
The franchises are gearing up for season one, which promises to be a spectacle of speed and skill. Six teams are preparing to compete against each other in a thrilling display of racing prowess. BigRock Motorsport, led by CS Santosh, India’s rally-raid champion, is poised to make a monumental push for aspiring riders. The team is sure to impress with their skills and experience in the field. Gujarat Trailblazers, led by Indian motorsport legend Gaurav Gill, is another team to watch out for Reise MotoSports, owned by Yogesh Mahansaria, is joining the fray to revolutionise Indian Supercross with its innovative approach. Team Mohite racing, led by Abhishek Mohite, is committed to raising motorsport standards with their skills and expertise. APL Apollo-led SG Sports is another team expected to make waves in the competition. SG Speed Racers, the team’s official name, promises to bring fierce competition to the league. Lastly, Panchshil Racing, owned by Atul Chordia, former motocross racer and owner of Panchshil Realty, recognises the immense potential of Supercross in India and aims to showcase its talents in the competition.
As the inaugural season approaches, now is the opportune moment for brands to join this revolutionary motorsport journey. ISRL invites brands from various industries to explore this exciting opportunity and become an intrinsic part of the off-road racing community in India with the growing supercross movement. Recognising the transformative power of brand collaboration, Lokhande further added, “The unveiling of branding opportunities further underlines the league’s desire to forge long-lasting partnerships with businesses that share its vision for growth and success. This represents an excellent opportunity for brands looking to make a mark in motorsports and gain exposure to a broader audience.”
CEAT ISRL season one will host an impressive line-up of international champions and rising Indian stars. The championship will feature four exhilarating categories – 450cc international riders, 250cc international riders, 250cc India-Asia mix, and the fiercely competitive 85cc junior class. As the world’s best riders converge in India, the series will serve as the ultimate proving ground for global Supercross supremacy.
For more information on the CEAT ISRL Season one rider auction and updates on team selections, visit the official website at https://indiansupercrossleague.com
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.
