MAM
Chennaiyin FC ink partnership with Polyhose as official presenting sponsor
Mumbai: Chennaiyin FC has roped in Polyhose, a diversified industrial conglomerate, as the club’s official presenting sponsor for the upcoming 2023-24 Indian football season.
The strategic partnership will allow Polyhose to leverage the widespread popularity of Chennaiyin FC to build a positive brand recall and affinity amongst CFC fans. The association is also set to reinforce Polyhose’s presence in the key market of Tamil Nadu and promote its commitment to innovation and engagement with stakeholders.
“We are delighted to welcome Polyhose as Chennaiyin FC’s presenting sponsor. Their commitment to contributing to the growth of the sport is exemplary, and we look forward to achieving great success together both on and off the field. This partnership is a testament to the strength of football in Tamil Nadu and the growth potential it holds,” stated Chennaiyin FC vice-president Ekansh Gupta.
Headquartered in Chennai, Polyhose has established global footprints with a presence in North and South America, Europe, the Middle East, Southeast Asia, South Africa and Australia. As part of the partnership, the company’s logo will be featured on the back of the Chennaiyin FC jersey while the H Stand inside the team’s home turf at the Jawaharlal Nehru Stadium will be renamed as the Polyhose Stand.
“We are pleased to announce the sponsorship of Chennaiyin FC, to support the football team and create electrifying moments for Chennai Fans. We’re big football fans who are proud of the growth of our local team, so sponsoring the club this season was a great choice. Through this collaboration, the two organizations share common goals of commitment to excellence and innovation while offering a wide range of unique and special experiences in this season. Wishing good luck to the entire team,” Polyhose managing director Shabbir YJ.
To make the association even more exciting, the kids of Polyhose’s employees will have the unique opportunity to walk out with Chennaiyin FC players during three home matches in the season, creating a memorable experience for them.
Chennaiyin FC will be in action on Saturday when they host Mohun Bagan Super Giant in their first home match of the Indian Super League 2023-24 season.
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.
