MAM
Matrix leads celebrity management industry consolidation by merger with Bling management
Mumbai: In a welcome move towards consolidation in India’s growing celebrity management industry, Bling management led by partners Swati Iyer, Piya Sawhney and Shanti Sivaram, has merged with India’s premier celebrity platform, Matrix.
Matrix, founded by Reshma Shetty & Vivek Kamath, represents some of the biggest actors in Indian cinema including Abhishek Bachchan, Alia Bhatt, Dulquer Salmaan, Farhan Akhtar, Katrina Kaif, Madhuri Dixit Nene, Priyanka Chopra Jonas, Ram Charan, Shahid Kapoor, Varun Dhawan and Vicky Kaushal among numerous other leading names. The company also represents top directors like Rohit Shetty and Zoya Akhtar. And in a new foray into sports, the company has signed up KL Rahul.
Post the merger of Bling management with Matrix, the roster of talent formerly represented by Bling including Vidya Balan, Radhika Madan, Twinkle Khanna, Dimple Kapadia as well as directors such as Konkona Sen Sharma, Sandeep Modi, Tahira Kashyap and Vasan Bala, among others, will now be represented by Matrix.
In addition to managing movie, TV, streaming, endorsements, events, social and digital portfolios for top-rung talent, Matrix also has a track record for its partnerships with some of India’s most successful celebrity private labels including Ed-a-Mamma (founded by Alia Bhatt and now a joint venture with Reliance Brands), Kay Beauty (founded by Katrina Kaif as a joint venture with Nykaa) and Anomaly (Priyanka Chopra Jonas’s hair-care brand).
Matrix has built an agency with many firsts to its credit, one of which is that the partners in the firm are all women. This includes four homegrown partners Dorita D’Souza (Partner, Legal & Compliance), Hiral Thakkar (Partner, Live Events, TV and casting), Kim Saldanha (Partner, Pvt Labels & Private Equity) and Shally Badlani (Partner, Creator Platforms). And three incoming partners with the merger: Piya Sawhney, Shanti Sivaram and Swati Iyer.
Swati Iyer will be the CEO of the merged entity.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
