MAM
ICC ropes in MRF Tyres as global partner in four-year deal
MUMBAI: The International Cricket Council (ICC) has roped in MRF Tyres as a global partner for ICC events for a period of four years from 2016 to 2020.
Over the next four years, the ICC events include eight tournaments, including the ICC World Twenty20 in 2016, an ICC Champions Trophy in 2017 and an ICC Cricket World Cup in 2019.
The ICC and MRF Tyres recently completed a partnership at the ICC Cricket World Cup 2015.
ICC CEO David Richardson said, “I am delighted that MRF Tyres has decided to continue its support of cricket by extending its partnership with the ICC for a further four years. Our aim at ICC events is to create an exceptional experience for all involved and I am confident that not only will MRF help us enhance that aim but that the forthcoming ICC events will help MRF promote its brand and expand its reach to other parts of the globe.”
“MRF is already an active promotor and supporter of cricket with a number of domestic and international fast bowlers benefitting from its MRF Pace Foundation. I am excited that MRF has elected to be cricket’s global partner and I am confident that this will be the start of a long relationship,” he added.
MRF Tyres chairman and managing director K M Mammen said, “This is a proud moment for MRF and this association is a testimony to our commitment to cricket. Twenty20 is the most popular form of the game today and it is a matter of great pride to be associated with the ICC World Twenty20 2016. Association with the ICC and the game of cricket presents a great opportunity for brand MRF to reach markets across the world. We are indeed proud to bring this thrill-a minute tournament to the millions of fans in India and all over the world.”
Also present at the announcement event at MRF Tyres headquarters in Chennai was former India captain and MRF brand ambassador Sachin Tendulkar.
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.
