MAM
Intl Hockey Federation signs sponsorship deal with ABN Amro
MUMBAI: Global bank ABN Amro has signed a four year agreement with the International Hockey Federation (FIH). ABN Amro will be the title sponsor of the Men’s Champions Trophies in 2008, 2009 and 2010.
ABN Amro is the fourth WorldHockey partner, joining Ata Holding, BDO International and Samsung. A part of the agreement is that ABN AMRO is the title sponsor of the three earlier mentioned events.
Furthermore the partnership includes that ABN Amro will be the title sponsor of the WorldHockey Magazine programme in 2007 and involves the bank in all of FIH’s 29 events over the four-year period.
FIH president Els van Breda Vriesman says, “This agreement is a major step forward for us. ABN Amro is, like FIH, an organisation present on all continents and in nearly all of our hockey countries. They are very proactive in making all of their sports sponsorship work for both parties, not just in hockey and I am sure, together with FIH’s other partners, ABN AMRO will add major value to continue to professionalize FIH’s major events.”
Being WorldHockey partner of the FIH, ABN AMRO will strengthen its position in the international hockey world. The bank is looking to achieve a better position in strong hockey countries like Pakistan and India and being title sponsor of major FIH events will be beneficial in achieving this goal.
ABN Amro is sponsor of different teams in the Dutch national league and supports 70 hockey clubs in Netherlands. Hockey is a sport with respect, integrity, teamwork and professionalism: the key factors of ABN Amro.
The new FIH sponsor structure exists since 1 January 2007 of a group of top tier sponsors, the WorldHockey partners, and a group of official suppliers. All WorldHockey partners are allocated to different tournaments, including the rights as a title sponsor and advise the FIH about their preference in finding the best location for the FIH events.
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.
