Brands
Motilal Oswal elevates marketing maven Mundra to group media head
MUMBAI: Financial services giant Motilal Oswal has promoted Varun Mundra to group head of media and innovations, capping the digital-first marketer’s swift rise through the company’s marketing ranks.
Mundra, who joined the firm less than three years ago, steps up from his previous role as senior vice president of marketing for the wealth management division, where he spearheaded brand growth and product excellence initiatives for India’s seventh-largest broking house.
“The journey has been nothing short of amazing—filled with learnings, challenges, and some big wins along the way,” Mundra said of his time at Motilal Oswal. He credited senior leadership, including Sandeep Walunj, for their “trust and support” in his ascent.
The ET Brand Equity Shark 2024 “Rising Star” winner brings a distinctive pedigree to the role, having cut his teeth at several top-flight advertising agencies. Before joining Motilal Oswal in 2022, Mundra served as director of business and client relations at The Glitch, where he managed campaigns for CoinSwitch, Kuber, SleepyCat and Netflix India.
His résumé includes stints at White Rivers Media, Isobar, Jack in the Box Worldwide and Dentsu Webchutney, where he honed his craft working with blue-chip clients like Hindustan Unilever, Visa India, CEAT Tyres and Godrej.
Industry observers note that Mundra’s promotion coincides with Motilal Oswal’s aggressive push to modernise its marketing approach and capture India’s digitally-savvy retail investor community.
The marketing executive’s previous initiatives at the firm included securing branding rights to Mumbai’s Malad Metro Station—establishing “Motilal Oswal Malad West”—and creating branded studio partnerships with financial news channels CNBCTV18, CNBC Awaaz and CNBC Bajar.
Mundra’s entrepreneurial spirit emerged early when, as a 17-year-old college student, he founded a digital agency that landed him features on CNBCTV18’s Young Turks and in The Times of India. He holds degrees from the University of Westminster and Coventry University London.
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.
