MAM
MRUC elects Ushodaya Enterprises director I Venkat as chairman
MUMBAI: Ushodaya Enterprises director I Venkat has been elected as the chairman of Media Research Users Council (MRUC) for a period of two years.
Venkat will replace GroupM South Asia CEO CVL Srinivas.
The decision was taken by MRUC board of directors at its 21st annual general meeting held on 25 September, 2015.
Additionally, HDFC Life senior executive vice president Sanjay Tripathy has taken over from Multi Screen Media president Rohit Gupta as the new MRUC vice chairman.
MRUC CEO Shaswati Saradar has decided to move on after handling the Council for a span of five years and Radhesh Uchil has been nominated as the new MRUC CEO.
DDB Mudra Group executive director N P Sathyamurthy, who earlier headed the Marketing Committee as the chairman, has replaced Paritosh Joshi as chairman of the Technical Committee.
Spatial Access CEO Nikhil Rangnekar has been named as the new chairman of the Marketing Committee.
Srinivas and Joshi will serve as mentors for the Council.
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.
