MAM
Neo ropes in seven sponsors for French Open
MUMBAI: Following the announcement of the dual feed coverage for the French Open tennis Grand Slam, Neo Sports Broadcast has announced that it has got seven sponsors for the event which starts tomorrow 26 May 2013.
The co-presenting sponsors for the French Open this year are Renault and Micromax.
In addition to these, five associate sponsors have also signed on for the event. These are Cadbury, Carlsberg, Nokia, Coca Cola and Samsung Smart TV. The number of sponsors announced is amongst the highest for any Grand Slam in the country. With this, the broadcaster said that it is almost completely sold out on the French Open.
The dual feed innovation for the French Open this year ensures that both Neo Prime and Neo Sports will show live feeds from separate courts. Consequently, fans will not miss out on any of the top action in one of the most exciting Grand Slams of the year.
Viewers will also be able to catch daily build-up and post match analysis for the French Open with ‘First Serve’, the wraparound show for the event.
Neo Sports Broadcast COO Prasana Krishnan said, “The French Open in 2012 had the highest level of viewership for any Grand Slam. This year, we expect this to go even higher with the pioneering dual feed coverage. We are pleased to note that sponsors have bought into this vision and are supporting us in a big way”.
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Neo bolsters French Open coverage with a dual feed
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.
