MAM
Kinetic & GroupM acquire majority stake in French OOH company
MUMBAI: WPP’s wholly-owned operating companies, Kinetic and GroupM have agreed to acquire a majority stake in France based out-of-home (OOH) company Financiere Poster (Poster Conseil).
Poster Conseil manages media planning and buying for agencies and direct clients, and provides planning and measurement technologies to both agencies and vendors.
It employs 25 people and is based in Paris.
Poster Conseil will continue to be led by CEO Xavier Sorato. The agency’s consolidated revenues for the year ended 31 December, 2014 were EUR 9.8 million, with gross assets of EUR 8.5 million.
Tenthavenue, Kinetic’s parent company, develops and delivers content that aligns brand objectives with consumer needs in OOH and moving environments. The subsidiary companies of Tenthavenue provide comprehensive branding services in global in-flight entertainment, OOH media advertising, mobile marketing and digital publishing.
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.
