MAM
Indian market is both a challenge and an opportunity: Matt Seddon
MUMBAI: Matt Seddon, the newly appointed Saatchi & Saatchi India CEO, who will be replacing Kamal Basu, is all set to take the advertising agency‘s India business to newer heights.
Talking to Indiantelevision.com, Matt revealed his plans for the growth in Saatchi & Saatchi India, which he thinks “needs to improve dramatically”.
“For a global company like ours in a market like India, we need to dramatically improve our performance. The India and China businesses are not performing as good as other worldwide businesses,” he said.
Seddon, who will be shifting base from Manila, the Philippines, feels that India shows lots of potential but it is a challenge to tap the market. He said, “My job in India would be to take the business to the new level. There is a need to do better in India. It is both a challenge and opportunity. In India we are not meeting the real potential.”
“I presently have three objectives in mind after I take over as Saatchi & Saatchi India CEO. Emersion and understanding of the business of India is the first thing on the list. I will sit with Kamal Basu (current CEO, serving notice period) and team and understand about the Indian clients, the market, capabilities of Indian offices, growth opportunities and then take necessary steps accordingly. I will refocus and recognise the business for growth. I will aim to grow the business with existing clients and also grow by roping in new clients”, he added.
Digital media is evolving both in India and worldwide and Seddon feels that digital mind is required for the business‘s growth today. “It‘s important to facilitate digital thinking throughout the agency.”
Seddon will be shifting to India in January 2012 and will be operating from the agency‘s Mumbai office.
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.
