MAM
Mudra’s Jude Fernandes promoted to executive director; Aniruddha Banerjee comes on board
MUMBAI: The Mudra Group has announced a slew of senior management changes. The current president at Mudra Mumbai office Jude Fernandes has been promoted to executive director. Filling his shoes in Mumbai is Aniruddha Banerjee (Ani).
In his capacity, Fernandes will have additional responsibilities that will include helping define the group’s strategic direction, strengthening Mudra’s offering to clients and improving the product, states an official release.
Commenting on Fernandes new position, Mudra Group CEO and managing director Madhukar Kamath said, “Jude has been a source of great strength for the Mudra Group. He is our rock and a true leader. His promotion is recognition of his fabulous work over the years, particularly as the head of Mudra Mumbai. It is also a statement of our aggressive growth plans, we need talent of his quality to help us define the Group’s strategic direction, strengthen our offering to clients and improving our product.”
Fernandes has spent over two decades in advertising – 14 of which he has spent at Mudra handling businesses such as the Godrej Group, LIC, the Pantaloon Group, SBI, Philips, Air India, HPCL, MTDC, Johnson & Johnson and Reliance ADAG among others.
Fernandes said, “I’ve had a long and rewarding association with Mudra and have enjoyed every minute of it. The Mudra Group is looking at some very aggressive growth over the next few years, and I love the idea of being part of that. My new role promises to be a lot of fun.”
Aniruddha Banerjee has also come on board, taking Fernandes’ old position. On the addition of Banerjee to the management team Kamath said, “As far as Ani is concerned, he comes to us with an impeccable track record. I think he is an excellent advertising mind, a great account man and a terrific team leader. He is just the right guy to continue the good work Jude has done. I have great regard for Ani’s proven abilities in organization building, and I’m sure he’ll revel in the challenge of taking Mudra Mumbai to the top”
Banerjee brings with him experience and has stints at Everest, Leo Burnett, Bates Worldwide (then Clarion) and Contract.
Banerjee said, “I am tremendously excited about the challenge of leading Mudra Mumbai. The agency already has an enviable roster of clients and from what I hear, a couple of large ones in the pipeline and more importantly great relationships with each one of them. I’ve been handed a healthy operation and good talent. I couldn’t ask for 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.
