MAM
JetSynthesys appoints Raj Thadani as CEO of JS-DHH joint venture
Mumbai: New-age digital entertainment and technology company, JetSynthesys, is pleased to announce the appointment of Raj Thadani as the CEO of its joint venture (JV) with Digital Hearts Holdings (DHH), a Japanese holding company listed on the Tokyo Stock Exchange (TSE). In his new capacity, Thadani will spearhead strategic initiatives, drawing on DHH’s expertise to bolster India’s gaming supply chain pipeline.
Thadani’s appointment signifies JetSynthesys’ commitment to harnessing DHH’s renowned capabilities within India, solidifying its global stature in gaming innovation. With extensive experience spanning close to two decades in technology and gaming, Thadani is poised to guide the joint venture towards success, seizing opportunities within the ever-evolving gaming landscape.
JetSynthesys CEO and founder Rajan Navani expressed his enthusiasm about the appointment, stating, “We are happy to welcome Raj Thadani as the CEO of our joint venture with Digital Hearts Holdings. His proven leadership skills and deep understanding of the gaming industry will be invaluable as we work to establish India as a global hub for game development and create impactful gaming experiences for our audience. Together, we are poised to unlock new avenues of growth and innovation in the gaming ecosystem.”
Raj Thadani, the newly appointed CEO of JS-DHH Joint Venture, shared his vision for the joint venture, saying, “I am excited to lead the joint venture between JetSynthesys and Digital Hearts Holdings. Our collaboration signifies a commitment to excellence and innovation in the gaming sector. I look forward to leveraging DHH’s strengths and JetSynthesys’ vision to drive meaningful impact and deliver exceptional value to our stakeholders.”
In November 2023, JetSynthesys announced a strategic partnership with Digital Hearts Holdings Co., Ltd. (DHH). As part of this collaboration, DHH has invested in JetSynthesys Co., Ltd. (JetSynthesys Japan). Simultaneously, JetSynthesys Japan harnesses DHH’s expertise in quality assurance, customer support, and marketing to create global products. JetSynthesys has formed a 50:50 joint venture in India with DHH. The joint venture will expand its debugging businesses in India and the global gaming market by combining the resources and know-how of both companies.
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.
