MAM
No plans to enter corporate farming business: Reliance
NEW DELHI: Reliance Industries Ltd has moved a petition in the Punjab and Haryana high court today, seeking the government’s intervention to bring a complete stop to acts of vandalism by miscreants, who destroyed some of its telecom towers in the states a few days ago.
“Taking advantage of the ongoing farmers’ agitation near the national capital, these vested interests have launched an incessant, malicious and motivated vilification campaign against Reliance, which has absolutely no basis in truth,” the conglomerate said in a statement.
While thanking authorities for their action against the vandals, Reliance has sought punitive and deterrent action against miscreants and vested interests in its plea to the high court.
“These acts of violence have endangered the lives of thousands of its employees and caused damage and disruption to the vital communications infrastructure, sales and service outlets run by its subsidiaries in the two states. The miscreants indulging in vandalism have been instigated and aided by vested interests and our business rivals,” it claimed.
Reliance has asserted that it has nothing to do with the three farm laws enacted by the Centre, and in no way benefits from them. It added that its subsidiary Reliance Retail, Reliance Jio Infocomm has not engaged in any “corporate” or “contract” farming in the past, and has no plans to enter this business in future.
The Mukesh Ambani-owned company clarified that it has not purchased any agricultural land, directly or indirectly, in Punjab/Haryana or anywhere else in India, for agricultural purposes. It further mentioned that it does not purchase any food grains directly from farmers, and has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices.
“Reliance and its affiliates fully share and support the aspiration of Indian farmers to get a fair and profitable price on a predictable basis for what they produce with exemplary hard work, innovation and dedication. Reliance seeks significant augmentation of their incomes on a sustainable basis, and pledges to work towards this goal. Indeed, we shall insist on our suppliers to strictly abide by the Minimum Support Price (MSP) mechanism, and/or any other mechanism for remunerative price for farm produce, as may be determined and implemented by the government,” the company said.
The conglomerate’s statement comes on a day the government was scheduled to hold talks with protesting farmers in New Delhi. This round of discussions, too, proved inconclusive; the next meeting will be held on 8 January. Meanwhile, farmers have declared their intention to further intensify their movement.
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.
