MAM
Leo Burnett Worldwide acquires major stake in Solutions Group in Sri Lanka
MUMBAI: Leo Burnett Worldwide announced the acquisition of a majority stake in the Solutions Group, a communications company based in Sri Lanka. As part of the acquisition, Leo Burnett Sri Lanka and Arc Worldwide Sri Lanka will now be fully integrated into Publicis Communications, one of Publicis Groupe’s four Solutions hubs regrouping all creative communications activities.
The Solutions Group was founded in 1999. Since its inception, the company has been headed by communications leader, Ranil de Silva. Today, the company has 81 of the country’s best and brightest professionals whose work has been consistently recognised globally at leading awards shows including Cannes Lions, D&AD, London International, Clio, Adfest, Spikes Asia amongst others. Leo Burnett Sri Lanka’s success across creativity and business has led it to be awarded at Asia-Pacific’s premier Agency of the Year Awards by Campaign Asia three years in a row. This acquisition will complement Leo Burnett’s existing service in the market, delivering best-in-class work and campaigns across the value chain, and creating ideas that truly move people.
“Given the tremendous growth and creative opportunities in Sri Lanka, I am thrilled to see Leo Burnett join forces with the talent and possibility that resides within the Solutions Group,” said Leo Burnett Worldwide CEO Rich Stoddart. Leo Burnett Sri Lanka MD Ranil De Silva further added, “We are thrilled to strengthen our partnership and to continue our efforts to build Leo Burnett’s position as a leading creative force in the country. I am confident that all the stakeholders will benefit greatly from the access to our global footprint.”
As part of this acquisition, the Solutions Group also acquired 100 per cent ownership of First Media Solutions, which represented Starcom Worldwide in Sri Lanka and was the first international media independent brand to enter Sri Lanka. First Media will now be fully integrated into the Publicis Groupe.
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.
