MAM
FCB Ulka appoints Shreekant Srinivasan as senior VP and business director
MUMBAI: FCB Ulka has announced the appointment of Shreekant Srinivasan as senior vice president and business director at its Delhi office. In his new role at FCB, Srinivasan will be heading iconic brands, like Horlicks, Hero MotoCorp, Hamdard, along with Boeing.
Srinivasan, who has earlier worked with agenices like BBH, Leo Burnett, McCann Worldwide, and Weiden and Kennedy, comes with 20 years of extensive experience of the field. He has played a key role in launching new offices, building cohesive teams and managing some illustrious brands such as GM, Tinder and Royal Enfield to name a few.
Commenting on the appointment, FCB Ulka president north and east Debarpita Banerjee said, “Shreekant has a proven track record of leadership, advertising flair, and business growth. He will be heading a lion’s share of this ever-growing branch at FCB. We are excited to have him over and are confident that he will lead this business with bigger better ideas on our brands.”
Speaking on his new role, Srinivasan said, “Sometimes things just click. I met Debbie after ages over a cup of coffee when she passionately spoke about the group's vision and a role that looked too exciting to not take up. With its legacy of doing culture-defining work being reflected in the recent campaigns like 'Sindoor Khela', FCB looked like the right place for my future exploits. And here I am, looking forward to partner FCB in its next phase of evolution.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
