MAM
Philips appoints Bharath Sesha as managing director for the Indian Subcontinent
Mumbai: Philips (NYSE: PHG, AEX: PHIA), health technology and innovation, announced the appointment of Bharath Sesha as managing director for the Philips Indian subcontinent, effective 1 September 2024.
In this role, Bharath will spearhead Philips’ growth strategy in India, with a strong focus on enhancing customer satisfaction and driving operational excellence. He will manage the Healthcare business headquartered in Gurgaon and hold responsibility for Philips’ Licence to Operate in India, which includes the Philips Innovation Campus (PIC) in Bangalore, the Healthcare Innovation Centre (HIC) in Pune, and Global Business Services (GBS) in Chennai.
Bharath succeeded Daniel Mazon, who was vice chairman and managing director for the Philips Indian Subcontinent until 1 April 2024 and has since taken on a global role at the Philips headquarters in the Netherlands.
Bharath is a seasoned leader with over two decades of global experience, bringing a profound understanding of the Indian market, particularly within the pharmaceutical and chemical industries. His expertise spans strategic leadership, business development, and operational excellence. Before joining Philips, he served as managing director at Heubach Colorants India Ltd., Renowned for his ability to inspire and lead teams toward achieving world-class performance, he consistently delivers results while driving innovation. He holds a master’s degree in international management from the Thunderbird School of Global Management and an MBA from the Institute for Technology & Management (ITM).
Commenting on his new role, Bharath said, “I am thrilled to join Philips and contribute to our mission of improving healthcare accessibility and affordability in India. I look forward to working with our talented team to bring our innovative technologies to address India’s unique healthcare needs. We will continue to collaborate with our partners and stakeholders to enhance our impact on the lives of millions by expanding access to quality care.”
Philips’ ongoing investments in India have been instrumental in solidifying the brand’s position as a leading Healthtech innovator, while also enhancing its presence across the country. Key initiatives such as the new Philips Innovation Campus (PIC) in Bangalore in 2023 and the announcement of a new R&D campus at the Healthcare Innovation Center (HIC) in Pune in 2024, have significantly strengthened the company’s operational footprint. These efforts have not only driven technological advancements but have also propelled India to the forefront of healthcare innovation and research.
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.
