MAM
Johari brothers buy back shares of MaXposure Media from Gruner + Jahr
NEW DELHI: The Johari family has bought back the business of MaXposure Media Group from Gruner + Jahr (the publishing division of European media conglomerate Bertelsmann) for an undisclosed amount.
Gruner + Jahr had acquired a majority (78.75 per cent) interest in MaXposure back in 2011. The remaining 21.25 per cent were held by the Group’s co-founder Prakash Johari.
Market sources said the buyback could be around 5.25 million Euros (Rs 40 crore). After the acquisition, MaXposure Media Group will solely be owned by the Johari family.
Prakash Johari is managing director and CEO of MaXposure and his brother Vikas Johari leads the creative departments as the publisher and COO.
Talking about his future plans, Johari said, “It’s interesting that we got this opportunity to get back in the exciting media space with controlling interest at MaXposure. We learnt and grew significantly over the last three years under the guidance of Gruner + Jahr. We plan to realign the company’s vision for the next three years under the new majority leadership and continue to expand our leading position in the corporate publishing space in India and enter foreign markets.”
The Johari family started MaXposure in 2006 and scaled it to be one of the largest magazine publishers in India. MaXposure publishes over 30 magazines in the corporate and consumer space, with India’s largest corporate publishing portfolio.
It is the largest in-flight magazine publisher in the Indian subcontinent with in-flight magazines of Air India, Spicejet, and Vistara.
Gruner + Jahr is one of the world’s leading media groups and its Electronic Media Sales (EMS) division is a leader in the digital advertising space in Europe. It offers nearly 500 magazines and digital offerings in over 30 countries. After the announced exit from its Indian digital media unit Networkplay earlier this week, Gruner+Jahr is now fully exiting the Indian market through this transaction.
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.
