MAM
Madison OOH re-structures top management team
MUMBAI: Madison Communications’ outdoor arm Madison OOH has re-structured its senior management team, which will come into effect from 1 November, 2015.
As a part of this re-structuring, MOMS COO Dipankar Sanyal had been promoted to Platinum Outdoor CEO. Sanyal has over 20 years of experience with outdoor and has been with the agency for the last 11 years. Before joining Madison, he worked with Vantage, Out-Sel, Portland, Zenith Media and RK Swamy.
Replacing Sanyal as MOMS COO will be MOMS west & south vice president Jayesh Yagnik. With over 15 years experience, Yagnik has been with MOMS for 12 years now. He joined the agency as an assistant manager and gradually rose to the top.
Stepping into Yagnik’s shoes as MOMS west & south vice president will be current MOMS west general manager Neeraj Ved. He has been with the agency for almost 10 years and joined as a management trainee.
MOMS north & east vice president Krishnendu Ghosh has been upped as Madison OOH national buying head. Ghosh has total outdoor experience of 15 years, out of which 13 have been with Madison.
Madison IES general manager Saumen Roy has been promoted as VP of the agency. Roy has been with the agency for the last five years and has been driving it ever since. Before joining Madison, he worked with JWT, Ogilvy, 360 degrees and Linterland.
Madison OOH CEO Soumitra Bhattacharyya said, “At Madison, we are a meritocracy and strongly believe in recognising and rewarding our home grown talent. The strong leadership team we have now put in place will help Madison OOH delight its existing clients by establishing new bench marks in service and quality standards and achieve aggressive growth as a by product.”
The Madison OOH team will be further empowered with Madison Media & OOH group CEO Vikram Sakhuja, who took charge from 19 October.
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.
