Brands
Masters Champions League signs Oxigen Wallet as title sponsor
NEW DELHI: The Dubai based Masters Champions League (MCL) has signed up Oxigen Wallet as the title sponsor for its inaugural edition, which is slated to start later this month.
The Oxigen Masters Champions League will feature six teams of retired international cricketers and will kick start on 28 January with the final match to be staged on 13 February.
The tournament will see Oxigen and MCL cooperate extensively in terms of sports events, on-ground activations and marketing campaigns.
The inaugural matches are due to take place at Dubai International Cricket Stadium and Sharjah Cricket Stadium.
Grand Midwest Sports, the group that conceptualised and began the tournament did so with an aim to take cricket to a higher level across the UAE.
Sharing his thoughts on the occasion, MCL chairman Zafar Shah said, “We are delighted to have Oxigen joining us as the title sponsor for MCL, which will now be called Oxigen MCL. They are one of the most innovative brands in the world for pioneering the genre of wallet led payments in the online and offline industry. Oxigen as a brand has in a very short span created a niche and legacy in their market. I am sure this will be a long and enriching affiliation for both stakeholders.”
Last week, Sony Pictures Networks (SPN) hopped on board as the official broadcaster for the Indian sub-continent. The MCL has also secured Mahendra Singh Dhoni, the current captain of the Indian national cricket team, as brand ambassador.
The first match will take place between two former legendary teammates namely, Sourav Ganguly from Team Libra Legends and Virender Sehwag from Team Gemini Arabians.
On becoming the title sponsors of MCL2020, Oxigen Services chairman and managing director Pramod Saxena said, “Oxigen is proud to partner with Masters Champions League 2020 as their Title Sponsor. Our love for cricket is a constant as it connects us to the masses being a cricket loving nation. With MCL 20-20, we will further Oxigen’s global reach by touching the lives of the NRIs living in the Gulf and other parts of the world, who can fulfil the needs of small payments for their families in India for money transfers, recharges and utility payments.”
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.
