MAM
Pocket FM elevates Lalit Gangwar to VP and country head – US
Mumbai: Audio series platform Pocket FM has announced that the company has elevated Lalit Gangwar to VP and country head – US and lead the company’s content operations and revenue growth for the US market.
An IIT-Madras alumni, Lalit is a founding member of Pocket FM and has been a driving force behind Pocket FM’s success in establishing its presence across multiple geographies, including India and US. His strategic vision and commitment have played an integral role in the platform’s transformation into a global entertainment powerhouse.
Lalit Gangwar, the newly appointed US country head, expressed his excitement about the journey ahead. He shared, “Pocket FM’s success underscores the impact of engaging storytelling. In the dynamic US entertainment industry, audio series are becoming more popular as a mainstream platform, fuelled by the emergence of widespread audio entertainment. Aligned with this evolution, we aim to deliver compelling storytelling that contributes to the growth of the audio series category in the US. It is my privilege and honor to have the opportunity to contribute to continue Pocket FM’s growth journey in US and take it to the next leap”
Lalit has been a partner to Pocket FM’s journey since its early days. Prior to joining Pocket FM, he has worked with startups like Healthkart, Zomato and Dineout.
Commenting on the elevation, Pocket FM CEO & co-founder Rohan Nayak said, “Lalit’s contributions have been nothing short of extraordinary. He has been a driving force in our journey towards achieving profitable growth. In this elevated role, we believe Pocket FM will continue to thrive and keep expanding into newer territories and emerge as a global leader in the audio entertainment space,”
In 2022, the company announced its entry into the US market when it surpassed a US$25 million annualized revenue run rate (ARR). It remains bullish towards innovation and growth and aims to leverage its proven success to build a mainstream entertainment hub for a global audience.
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.
