Brands
My11Circle joins Lucknow IPL Team as official Title Sponsor
Mumbai: Games24x7’s fantasy sports platform, My11Circle has signed up with RP-Sanjiv Goenka group’s newly announced Lucknow franchise as the official title sponsor. The three-year deal will see the My11Circle logo featured on the Lucknow team jersey, as it begins its IPL journey this year.
“We are excited to announce our first IPL team sponsorship and the Lucknow team is a perfect fit as it represents the heartland of the country where cricket fans have ardently supported the sport and now get an opportunity to support their own team,” said Games24x7 co-founder Bhavin Pandya. “We launched My11Circle in 2019 and within a short span, it has emerged as one of the most popular fantasy sports platforms in the country. We witnessed a 100 per cent growth last year primarily because of our ability to connect with the discerning Indian cricket fan, where our campaigns have celebrated and rewarded their fervor and skill. We believe that this partnership will further strengthen our engagement with millions of cricket fans across India.”
The team will fight their first IPL game this year, with Gautam Gambir as the mentor, and former Zimbabwean cricket coach, and former cricketer Andy Flower as head coach. “We are delighted to have My11Circle as our Principal Team Sponsor. We thank them for the faith they have shown in our new franchise and are confident that this will be a winning partnership,” said RPSG Sports CEO Raghu Iyer.
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.
