MAM
Joginder Rana named as CASHe vice chairman & MD
Mumbai: AI-driven financial wellness platform CASHe is prepping up for its next phase of growth with a series of key leadership appointments. To this effect, the company has appointed Joginder Rana as the vice-chairman and managing director, Dhruv Jain as chief executive officer, while the incumbent chief technology officer, Yashoraj Tyagi, has been appointed as the company’s first chief business officer.
“The key leadership appointments will play a crucial role in driving the company’s expansion plans. The new team will work closely with Joginder Rana to help CASHe realise its 3.0 vision of becoming the go-to financial platform for the millennial and Gen Z cohort,” the company said in a statement on Friday.
“We have been ramping up our efforts to piece together a best-in-class team to demystify credit and credit rating systems thereby making financial inclusion possible to all. The company is now in a position to make a better life for everyone by expanding its financial products to cover the entire gamut of needs of its customers,” stated CASHe founder-chairman Raman Kumar. “Joginder, Dhruv, and Yashoraj supported by a young and talented team of professionals will catapult CASHe into becoming the financial platform of choice for all,” he added.
Rana, a veteran banker, brings in over three decades of global and domestic experience in the banking & ITES industry essentially covering wholesale, retail, rural & FI banking. His previous stint was the MD of Bank of Baroda Global Shared Services, a wholly-owned subsidiary of Bank of Baroda. He has also held senior management positions in leading banks such as RBL Bank, and Citigroup. He holds a distinguished academic background as an all-India rank holder in CA, ICWA and CS. He is also a Certified Fraud Examiner (CFE) from the USA.
“I am excited about joining CASHe, an incredibly well-positioned company that can transform financial inclusion in an under-penetrated and under-serviced sector, using its unique and industry-first credit rating and credit decision support algorithms and technology platform,” said Joginder Rana on his new role. “Rapid adoption of digital financial products and evolving consumer preferences are strong drivers of growth in this sector and CASHe is well-positioned to assume market leadership as a FinTech platform of choice.”
Dhruv Jain who joins as CASHe’s CEO brings over three decades of extensive experience in all facets of corporate finance, having worked with large domestic and multinational conglomerates. Most recently, he was MD – CFO with Altico Capital India Ltd, an NBFC, where he spearheaded the company’s critical finance functions, including raising debt capital for business growth. Prior to Altico Capital, he held key leadership roles with India Infoline Group, CitiFinancial (part of Citigroup), Bharti Airtel, Kotak Securities and ITC’s financial services group. Jain is a fellow chartered accountant and licentiate company secretary.
“I am excited to join CASHe, as its vision and growth plans align with my passion for financial inclusion of all in a credit under-served environment,” stated Dhruv Jain. “CASHe has a strong business model and I look forward to this leadership role to accelerate growth by expanding its balance sheet and increasing profitability. The company is focused on growing aggressively and I am keen to lead CASHe and fuel its ambitious growth plans”
Yashoraj Tyagi, the youngest CXO level team member, has been appointed as the company’s first bhief Business officer in addition to his current role as CTO. Tyagi joined the company in 2017 as a trainee engineer, straight from BITS Pilani and soon rose to become the CTO post his masters in financial engineering from the University of California at Berkeley. His experience in data sciences/AI and product management will ensure that the company is at the forefront of innovation and excellence. His expanded role will focus on bringing out innovative financial products that are inclusive and expansive besides striving for tech and business focussed alliances that are key to CASHe’s long-term growth and success.
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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.
