MAM
Lemma ropes in Puneet Biyani as company president
Mumbai: Lemma, an independent supply-side platform for digital out-of-home, announced the appointment of Puneet Biyani as company president. He will take on his new role immediately and be a key contributor to enhancing Lemma’s global footprint.
Biyani joins Lemma with over two decades of experience in business operations, finance, international marketing, and strategy. His most recent stint was with Times OOH, a subsidiary of Bennett Coleman & Co. Ltd.
As president, Biyani will work closely with the board and the leadership team across APAC and other regions to craft the company’s business growth vision and expansion strategy into global markets. He will also oversee finance, business planning, process automation, fundraising, & business operations for Lemma across all markets.
Having spent the larger part of his career with The Times of India Group, Biyani has extensive out-of-home advertising experience. He held the position of chief financial officer for Times Innovative Media Ltd. (Times OOH) while also leading their Mauritius business.
Biyani has worked with global organisations like Price Waterhouse and Goldman Sachs. On the academic front, he is a gold-medal-winning chartered accountant and Harvard Business School alumnus.
Lemma has become the go-to platform for enabling programmatic buying of out-of-home (OOH) media by a wide range of clients, including top digital media agencies, advertising giants, and major brands around the world today.
On joining Lemma, Biyani said, “I am really excited to be part of this amazing team. Lemma has been a pioneer in the digital advertising segment. I look forward to working closely with the team on the exciting journey ahead. The space is bound to expand rapidly, and on the technology front, Lemma is well positioned to lead and shape the development.”
“Having Biyani onboard as company president at Lemma will inject a new level of energy and innovative thinking to help accelerate the company’s growth and attain our vision of transforming DOOH into mainstream digital as we enter a new phase of scaling business,” said Lemma founder & CEO Gulab Patil.
Patil adds, “His expertise aligns perfectly with our business expansion plan as we continue to strengthen our technology and team globally and enhance our programmatic DOOH presence.”
Biyani will be based out of Lemma’s Delhi office and will serve as the liaison between all teams and markets from the capital city.
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.
