MAM
Punit Goenka elected President of IAA India Chapter
MUMBAI, September 24, 2018: Punit Goenka, Managing Director & CEO, Zee Entertainment Enterprises Ltd (ZEEL) was unanimously elected President of the India Chapter of the International Advertising Association (IAA) at its AGM held on 24th September 2018 in Mumbai.
Shashi Sinha, CEO, IPG Media Brands India was elected Vice President. The office bearers would be Pradeep Dwivedi, CEO, Sakal Media Group, Hon. Secretary, Jaideep Gandhi, Founder, Another Idea, Hon. Treasurer, and Ramesh Narayan Immediate Past President.
The Members of the Managing Committee elected include Megha Tata COO BTVI, Janak Sarda Director Deshdhoot Group, M.V.Shreyams Kumar JMD Mathrubhumi Group, I.Venkat Director Eenadu, Abhishek Karnani Director Free Press Journal. The list of members co-opted and invited to the Managing Committee will be shortly announced.
Punit Goenka has just relinquished office after a much-acclaimed term as President of the IBF.
During his tenure as MD & CEO, ZEE has won several awards including the Dun & Bradstreet Corporate Award 2015, IMC Fusion Award 2013 for Excellence in Media, Businessworld Infocom ICT Award 2012 and many more.
Punit Goenka was conferred the ‘Outstanding Contribution to Media’ award at the Managing India Awards hosted by AIMA in 2018. He has also received Business Today ‘Best CEO Award’ in the Media and Entertainment category for 2016, MIPTV’s Médaille d'Honneur Award 2016, Economic Times ‘40 Under Forty’ India’s Hottest Business Leaders Award 2014, the ‘Young CEO Award’ by CEO India magazine in 2015 and the IAA Leadership Award 2014 under the category of ‘Media Person of the Year Award’. Goenka has also been recognized as the ‘Entrepreneur of the Year’ during the Asia Pacific Entrepreneurship Awards 2014. Punit was felicitated as the ‘IMPACT Person of the Year’ in 2014.
Speaking on his new role as the President of IAA, Mr. Goenka said, “It is an honour for me to take over the mantle of leading the India Chapter of IAA. I am humbled by the faith and trust that my friends and colleagues from the Industry have bestowed on me. It will be my sincere endeavour to work towards strengthening the India Chapter of this prestigious association, taking up initiatives that address key industry concerns and are aimed at enhancing the ecosystem.”
Outgoing President Ramesh Narayan said "I am delighted that Punit Goenka is taking over as President IAA. His well-known leadership skills and the respect he commands in our industry will undoubtedly take the IAA India Chapter to greater heights. Shashi Sinha is a doyen of the advertising industry and a known performer in industry Associations. The combination is unbeatable.”
Srinivasan Swamy, President Elect IAA Global and Chairman, RK Swamy BBDO said "Punit Goenka is wonderful leader to have in the year when India will host the 44th. IAA World Congress in Kochi in February 2019. I am very happy that such a distinguished person has taken over the responsibility of leading IAA. It augurs well for the India Chapter.”
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.
