MAM
Hindustan Media Ventures appoints Samudra Bhattacharya as new CEO and KMP
MUMBAI: Hindustan Media Ventures Ltd has appointed Samudra Bhattacharya as the chief executive officer (CEO) and key managerial personnel (KMP) effective 1 November. Bhattacharya joined the company as COO print business in last July.
Prior to joining HT Media, he was president of PepsiCo Joint Venture, and was based out of Manila, Philippines from March 2017 to mid-July 2019. Bhattacharya has worked across several roles and geographical locations for the last 24 years. The company updated Bombay Stock Exchange.
After graduating from the Indian Institute of Management, he started his career with P&G in India, and after four years, joined Asian Paints in the Middle East where he served sales and marketing as well as general management roles for almost seven years.
The previous CEO and key managerial personnel Rajeev Beotra vide his letter dated 31 October 2019, tendered his resignation as CEO to take on a new role within the company.
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.
