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Insurance Brokers Association taps Pranav Kapadia as deputy secretary general
Seasoned insurance expert joins Ibai to boost broker advocacy and drive industry growth
MUMBAI: Insurance Brokers Association of India (Ibai) has appointed Pranav Kapadia as its deputy secretary general, effective 2 February 2026. The move comes as India’s insurance sector accelerates digital adoption and navigates evolving regulations.
In his new role, Kapadia will champion broker interests while promoting a transparent, efficient, and customer-friendly insurance ecosystem. He will also deepen engagement with the Insurance Regulatory and Development Authority of India (Irdai) and key industry stakeholders.
With over 17 years of experience across finance, compliance, and governance in the insurance sector, Kapadia brings a practical understanding of industry challenges. His hands-on expertise positions him to effectively represent brokers in policy discussions and advocacy efforts.
Ibai president Narendra Bharindwal said, “Pranav Kapadia’s appointment strengthens our commitment to empowering insurance brokers in India’s evolving financial landscape. His experience and insight will be invaluable in advancing our mission and raising the professional profile of brokers.”
Kapadia commented, “This is a pivotal time for the Indian insurance sector. I look forward to fostering industry collaboration, supporting forward-looking policies, and ensuring brokers continue to serve customers effectively.”
With his blend of operational know-how and regulatory insight, Kapadia is set to elevate the role of insurance brokers and reinforce their position as trusted advisors in India’s dynamic insurance market.
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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.
