MAM
Prakash Wakankar joined Xynteo India as a director on its board
Mumbai: In a strategic move to reinforce its commitment to enhancing the well-being of people and facilitating planet-positive growth, Xynteo India announced the onboarding of industry veteran Prakash Wakankar as a director to its board. With an illustrious 38-year career spanning various industries and geographies, he brings a wealth of experience and enhances the diversity in leadership.
Prakash’s journey began in Pharmaceuticals with Pfizer & Hoechst (now Aventis), setting the stage for a remarkable professional voyage. Starting with Pharmaceuticals (Pfizer & Hoechst), over the past four decades, Prakash has worked in FMCG, Packaging, Hospitality, Energy, & Retail Two-wheelers and International Business, He has held leadership and board-level positions, including president, Coca-Cola Bottling (CBU) in India, director east Asia & Pacific, Essel Propack Ltd., president & CEO, Mahindra Holidays & Resorts, managing director, Perfetti van Melle, and recently as chief of international operations (FES), Mahindra & Mahindra Ltd. and CEO of Mahindra Two-Wheeler Businesses. He brings extensive domestic and international understanding, spanning India, ASEAN, the Far East, Europe, and parts of Latin America and Africa.
Post his superannuation in March 2023, Prakash continues to advise the Mahindra Farm Sector.
Commenting on this significant development, Xynteo India senior partner Vipul Kumar, said, “Having Prakash Wakankar onboard marks a valuable addition to the Xynteo India family. His extensive expertise and unwavering dedication to diversity perfectly resonate with our commitment to purpose-driven initiatives. At Xynteo, we are focused on steering organisations toward addressing global societal and environmental challenges. Prakash’s strategic vision aligns seamlessly with our mission, enhancing the dynamism of our board and playing a pivotal role in propelling Xynteo India towards excellence. Together, we look forward to advancing our common objective of creating positive societal and environmental impact through purposeful transformations.”
Beyond his corporate achievements, Prakash is an accomplished sports broadcaster for the BBC, ABC, Cricket Radio, and Akashwani, showcasing his ability to balance his passion for Cricket with corporate responsibilities. He is widely recognized as a sought-after speaker and trainer across diverse genres.
Xynteo director Prakash Wakankar said, “I am excited to contribute my diverse experiences to the dynamic team at Xynteo. Aligned with the organisation’s purpose-driven approach, I am enthusiastic about collaborating with the team to foster innovation and drive planet-positive change in the industry. Together, we aim to advance Xynteo’s vision of a world where businesses thrive by addressing global societal and environmental challenges and guiding leaders through purposeful transformations that fuel sustainable growth.”
In its pioneering collaborative initiatives with global industry leaders, Xynteo is dedicated to fostering growth that benefits both the planet and human well-being. Embracing the possibilities of achieving net-zero emissions and transitioning to a circular economy, Xynteo enthusiastically develops socially inclusive solutions and reshapes stakeholder ecosystems to promote greater equity. This approach introduces a fresh perspective on how businesses are guided by Xynteo’s leadership, approach thinking, leadership, partnerships, and overall conduct.
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.
