MAM
One Championship announces new global brand partnerships
MUMBAI: The largest global sports media property in Asian history, ONE Championship (ONE), has announced new strategic partnerships including Xiaomi, Intel, HP and Logitech. These revenue partnerships will leverage multiple ONE content stacks and platforms, including ONE Championship’s martial arts and esports businesses, as well as ONE Studios. Commitments span martial arts and esports platforms in 2020 and will also include The Apprentice: ONE Championship Edition.
Chatri Sityodtong, chairman and CEO of ONE Championship, stated: “The announcement of these partnerships is a testament to our team’s exceptional work alongside global brands to solve their marketing and business needs. We believe that by harnessing the power and reach of our content stacks and platforms, brands can benefit from engaging with our millions of fans across the globe.”
Shou Zi Chew, president of International, Xiaomi, stated: “As Xiaomi continues to grow its presence globally, we are thrilled at this opportunity to partner with ONE Championship – a world-class sports property. This major initiative will provide a valuable platform to cross-pollinate the fanbase of ONE Championship with Mi Fans around the world. Through this, we can work in tandem to grow a shared passion for Xiaomi’s amazing products and sports, further ignite dreams, inspire nations, and change the world through real-life superheroes.”
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.
