MAM
Max Fashion promotes insider as CEO
MUMBAI: Retail empires are not built by the faint-hearted. Sumit Chandna, freshly installed as chief executive of Max Fashion, knows this better than most. The 25-year veteran, promoted from deputy chief executive at Lifestyle International, has spent a career extracting profits from India’s cutthroat retail trenches.
His record is formidable. At every stop—Shoppers Stop, Hypercity, Aditya Birla Retail, Bata India and Landmark Group—Chandna has delivered the same brutal formula: fatter margins, leaner costs, higher sales. It is a skill honed across hypermarkets, department stores and specialist retail, from high fashion to groceries.
A graduate of the National Institute of Fashion Technology in Delhi, Chandna earned his stripes at Shoppers Stop, where he launched India’s first designer co-brand, Kasba, with Raghavendra Rathore. At Hypercity, he built merchandising systems from scratch and delivered results 70 per cent above plan with margins six percentage points higher than target. During an 11-year stint at Aditya Birla Retail, he rose to chief merchandising officer, pushing promotional sales from eight per cent to 23 per cent in four months and launching profitable private-label lines.
Three years at Bata India saw him juggle retail operations and merchandising before Landmark Group poached him in 2022 to run Max as deputy chief executive. Now he has the corner office.
Chandna is also a certified executive coach who has recruited talent from top business schools across India and Asia, lectured at management campuses and attended leadership programmes at Harvard and IMD in Lausanne. He won the Aditya Birla Group chairman’s award for exceptional contribution—no small feat in a conglomerate that size.
His mandate at Max is simple: keep the juggernaut rolling. In announcing his promotion, Chandna promised to lead the brand into its “next phase of growth, innovation, and impact”. Strip away the corporate speak, and it means the same thing it always has: sell more, spend less, make more.
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.
