MAM
Legends League Cricket locks LNJ Bhilwara Group’s ‘Bhilwara Kings’ as the fourth team
Mumbai: Legends League Cricket has onboarded LNJ Bhilwara Group as the fourth franchise in the league for this season. From textiles and fashion to EV batteries, this company is making the grand transition into the sports business with this investment.
Adani Group, GMR Group, and Manipal Education and Medical Group (MEMG) have already acquired franchises in the Legends League Cricket recently.
The league, which is being played in India for the first time, is dedicated to the 75th anniversary celebration of Indian Independence and is being held in India from 16 September. The upcoming edition of the league will have four teams playing from 16 September to 8 October 2022 in six cities.
The league will be played at the Eden Gardens in Kolkata, followed by Lucknow, New Delhi, Cuttack, and Jodhpur.
Legends League Cricket founder and chairman Vivek Khushalani said, “We welcome Riju Jhunjhunwala of the LNJ Bhilwara group to be part of the Legends League Cricket. When we went to him with this idea, his enthusiasm was such that we knew that he was going to be part of our team. We are glad that he finally decided, and I thank him once again for all the support.”
The $1.2 billion LNJ Bhilwara Group is known for its apparel and garments. It recently diversified into EV batteries.
LNJ Bhilwara Group chairman Riju Jhunjhunwala said, “No sport can ever claim the love and popularity cricket has in our country. I am proud to be part of Legend’s clan, which has a religion-like fan following. In my career, I have watched so many cricketers, but this is a different feeling altogether to be part of the game. I am really looking forward to this season and many more of them.”
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.
