MAM
Pitchfork Partners joins SBICAP Ventures as strategic communication counsel
Mumbai: SBI Capital Markets’ SBICAP Ventures Ltd. (SVL) has appointed Pitchfork Partners as its strategic communication counsel. The agency will work towards strengthening the brand’s position as one of India’s fastest-growing asset management companies.
The service mandate will now cover external communication in addition to the ongoing digital outreach for the various fund initiatives under SBICAP Ventures, namely Neev funds, SWAMIH (Special Window of Affordable & Mid-Income Housing), and SRI (Self-Reliant Fund).
SVL has a stellar track record of investing in stressed residential real estate and the MSME sector in India, as well as contributing to many renewable energy, waste management, and climate-related initiatives.
Neev Fund vice president Anjana Seshadri said, “We are excited about our collaboration with Pitchfork Partners. Our long-standing association with the company has propelled us to expand our horizons and dive even deeper into the brand’s communication with the media. With Pitchfork’s guidance and expertise, we hope to foster a better positioning of SBICAP Ventures as a whole.”
“We are happy to announce this partnership. Given SBICAP Venture’s current positioning in the market, it has emerged as one of India’s largest asset management companies. We are privileged to partner with them and build on their credibility,” added Pitchfork Partners co-founder Jaideep Shergill.
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.
