MAM
Penn Schoen Berland strengthens India presence with 2nd office
MUMBAI: Penn Schoen Berland (PSB), a global research based strategic communications advisory which is a part of Y&R Brands and WPP, launched its second office in India at Mumbai.
The agency started its South Asia operations in April 2011 with the launch of its Gurgaon office.
Along with the launch of Mumbai office, PSB also announced the introduction of Capital Market Communications (CMC) to its bouquet of services. PSB will help create business and financial communication roadmaps that will guide CEOs and CFOs of publicly traded companies to maximise returns to their shareholders.
Chartered accountant and an investor relations expert Mehul Mehta with close to 15 years of experience has joined PSB Mumbai as a director and will lead the CMC team.
PSB South Asia MD and CEO Ashwani Singla said, “As the Indian economy tries to regain its strength; companies have their own challenges as they struggle to sustain investor’s interest in them. Combining our research and capital market communications capabilities will provide clients with deep insights and an actionable programme to protect and enhance shareholder value.” He further added, “Mumbai being the financial capital of the country, it was only appropriate that we take this opportunity to expand our presence.”
PSB brings the lessons learnt from its campaign trails into the board room to help companies negotiate their corporate image and corporate affairs challenges. Almost 30 years old now, PSB serves Fortune 100 Corporations, Hollywood Studios and has worked with nearly 30 presidents and prime ministers around the world.
PSB South Asia serves clients comprising Indian transnationals and multinational corporations operating in the Indian Sub-continent, South East Asia and The Middle East.
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.
