MAM
Max Bupa Health Insurance rebrands as Niva Bupa
Mumbai: Max Bupa Health Insurance on Friday announced that it has rebranded itself as Niva Bupa. Backed by True North and Bupa, the company will aim to provide financial assurance as well as healthcare access to its customers.
Owing to a change in shareholding pattern, with the exit of Max India and entry of private equity firm True North, Max Bupa needed to create a new brand identity as part of the transition, the company said in a statement on Friday.
Niva Bupa Health Insurance aims to become a Rs 2,500 crore company by FY21-22. The company will bring over 12 million people in India under the ambit of health insurance by FY25, it added.
“The new brand will firmly stand at the intersection of financial services and healthcare to fulfill the needs and aspirations of millions of people in India,” said Niva Bupa MD and CEO, Krishnan Ramachandran. “The health insurance industry is poised for monumental growth, and we will take our new brand identity to our customers with a renewed promise of protection and care. As Niva Bupa, we will look to further strengthen our core brand ethos of customer-centricity.”
“Health insurance is no longer looked upon as a financial instrument solely for tax saving purposes,” said Niva Bupa SVP and head of marketing, Nimish Agrawal. “It has repositioned itself as a self-investment product which will take care of all healthcare needs. This warranted a change in our positioning as well. With the new brand identity, we want to unravel the health insurance space and offer a humanised experience to our customers.”
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.
