MAM
Neo Sports ropes in sponsors for All England Open Badminton Championship
MUMBAI: Neo Sports has roped in a clutch of sponsors for the All England Badminton Championship.
The sponsors are Perfetti, Adidas, Vodafone and Tata DoCoMo e-connect, according to market sources. Neo will telecast the event from the quarterfinal stage from 10-13 March.
While not revealing any names, Neo Sports Broadcast EVP ad revenue Raju Udupa said that with the craze happening around Saina Nehwal over the past six months, viewership of the sport is growing. Advertisers are now more open to investing in other sports besides cricket.
“Earlier there was no viewership for badminton. Now that Indians are performing well, viewers are encouraged to tune in. There is a niche audience for this sport which will grow. To push this event, we have advertised online to push badminton. We also use syndicated columns in the press, SMS, mailers. We have seen that women also follow this sport. A lot of badminton viewing comes from the metros,” Udupa added.
Sponsors, Udupa said, have exclusivity as there are no spot buys. Unlike cricket, the format of the sport is such that there is no room for it.
Neo plans to kick-off on-ground initiatives aimed at schools and badminton clubs in the near future. The channel airs 12 events of the Badminton World Federation (BWF) a year.
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.
