MAM
Hercules to sponsor India’s first mountain biking race
MUMBAI: Hercules which manufactures Mountain Terrain Bikes in India will be the title sponsor for India’s first mountain biking race.
The event will will be held in Himachal Pradesh from 6-14 October 2005. Over 60 top international and Indian riders will compete against each other and nature for the Hercules MTB Himachal champion title.
The event is being marketed and promoted worldwide by IMG/TWI. IMG/TWI will produce broadcast this event on Trans World Sport reaching 260 million households over 131 countries worldwide. IMG/TWI will also broadcast this event via SNTV. In India, the event will air on Ten Sports.
Hercules MTB Himachal has been conceptualised and organised by Himalayan Adventure Sports and Tourism Promotion Association (Hastpa). The organization works towards sustainable tourism development in the state of Himachal Pradesh. Hastpa is organising the race under the aegis of the International Mountain Bicycling Association and the event is supported by the Department of Tourism, Government of Himachal Pradesh.
IMG/TWI South Asia MD Ravi Krishnan said, “We are proud to be associated with India’s first ever mountain biking race. The Hercules MTB Himachal challenge will be responsible for heralding a new era in this popular sport that is growing by leaps and bounds worldwide. We are thankful to Hercules for their support to the event. I am certain that their association with the event will take it to great heights.”
Races will be held in the following categories – Men, Women, Masters, and Teams. After the final stage, times will be calculated to determine the Hercules MTB Himachal champion. Over the next few years the Hercules MTB Himachal race aspires to evolve to the stature of the Trans Alps Challenge held in Europe and the Trans Rockies Challenge in Canada.
The Hercules MTB Himachal is a mountain cycling adventure and an endurance race. Starting from Shimla, tomorrow 6 October, over 60 amateur and pro riders are estimated to grind their way back and forth over the beautiful landscape while bouncing, grunting and pedaling through 480 kilometers of wilderness trails. It will be a test of physical endurance and mental determination for mountain cycling enthusiasts from India and abroad. The event passes through the venue of the celebrations of the famous Kullu Dusshera and the prize distribution will be held on October 14 in Manali at the Mountaineering Institute auditorium. Honourable Chief Minister Raja Virbhadra Singh will be the chief guest.
Hastpa president Mohit Sood said, “We are working towards promoting Himachal as the best adventure tourism destination in the world. Through this event we want to present to the world the potential of the Himalayas and how it can be nurtured by way of promoting the ecologically and environmentally friendly sport of mountain biking which has tremendous potential to grow in this part of the Himalayas.”
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.
