MAM
CredAvenue appoints Krishnendu Majumdar as chief product officer
Mumbai: Debt marketplace CredAvenue on Monday announced the appointment of Krishnendu Majumdar as chief product officer.
In his new position, Majumdar will drive CredAvenue’s product strategy and build deeper synergies within different product verticals through technology-oriented solutions, said the statement.
Krishnendu has over two decades of extensive experience in building scalable solutions for complex and disruptive businesses in both – B2B & B2C domains. He has derived customised solutions for complex business challenges and has managed and mobilised cross-functional teams under the product, engineering and operations verticals in multiple leadership roles at InMobi, SGT Global and TCS, among others.
“We are redefining debt markets through our product-first approach. We have built India’s most comprehensive debt product suite under one marketplace, and we aim to only expand our product offerings across each of our sub platforms in the near future” said CredAvenue founder and CEO Gaurav Kumar. “We are delighted to have Krishnendu in this mission-critical role. Krishnendu’s deep domain expertise will help us elevate the operations of our current product portfolio while also driving the development of innovative new products to fuel further growth. Krish will be integral to our leadership team as we continue to penetrate deeper into the Indian financial market.”
Most recently, Krishnendu served at Flipkart at vice president of catalogue and buying experience. He has experience across domains like banking, online brokerage, supply chain management, advertising, and e-commerce.
At Flipkart, he played an instrumental role in automating the entire cataloguing experience by leveraging hundreds of ML/AI models. Over the years, Krish has demonstrated strong product management, operational, technical and strategic leadership capabilities.
“CredAveneue is a category creator and has built a truly one-of-a-kind debt marketplace paving the way for a transformational approach to the Debt markets. I am elated to be joining them at this juncture of their journey,” stated Krishnendu Majumdar. “India has been underserved with respect to the availability of credit to the largest section of the population. With the democratisation of credit availability, India can truly aspire to become a $5 trillion economy. CredAvenue has also demonstrated immense potential to unlock significant economic growth by allowing easier credit accessibility which is aiding growth and aspiration of people.”
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.
