MAM
Laqshya Media Group ropes in Swaroop Banerjee as Event Capital CEO
MUMBAI Event Capital, the live IP arm of Laqshya Media Group has roped in Tribe Asia IP director Swaroop Banerjee as its CEO. Banerjee’s mandate at Event Capital involves expanding the current bouquet of Live intellectual properties owned by Event Capital and introduce focussed live and digital content creations.
Based out of Mumbai he will oversee development of new verticals in lifestyle, music and sports. Deepak Choudhary, the co-founder of Event Capital, will now focus on acquisitions, collaborations and investments as Director of Event Capital.
“Banerjee’s unfathomable experience with building IPs, combined with his genuine passion for festival culture, music and alternative sports, makes him absolutely ideal to lead Event Capital as the chief executive. EC currently has several IPs in Lifestyle, Sport, Music, Education and Trade and Banerjee’s strategy of creating the right balance on IP creations and acquisitions is in sync with our vision. We are glad to have him on board”, said Event Capital director and co founder Deepak Choudhary.
“When we took on the initiative to make Event Capital India’s largest IP creator and aggregator, we were extremely focussed and with the support of our entire Laqshya Media machinery we are committed to make this brand a world class live and digital content hub. Banerjee has been on our mind from quite some time and with him we are confident to take the next big step in this game changing IP environment” Laqshya Media Group MD Alok Jalan added.
“It is a gigantic opportunity and I am excited to work with such a talented team. I am overwhelmed by their generosity in supporting me and allowing me total autonomy to create a lifestyle, music and sports vertical from scratch and revitalize the existing genres of live content that we own. You will very soon hear announcements from us on larger than life collaborations with Bollywood, International Music, Alternative Sports and Lifestyle”, said Banerjee on his new role.
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.
