MAM
R. Seshasayee named non-executive chairman of Infosys Board
NEW DELHI: R Seshasayee has been appointed as the non-executive chairman of the Infosys Board with immediate effect.
The Board approved his name in a meeting held earlier in the day in Bangalore.
On the other hand, K V Kamath is stepping down from his position as chairman of the Board and as an independent director of the company, consequent to his nomination as president of the BRICS New Development Bank.
Seshasayee has been an independent director on the company’s Board since January 2011 and is the chairperson of the Audit Committee. Seshasayee’s other board positions include non-executive vice chairman of Ashok Leyland and chairman of IndusInd Bank.
Kamath said, “I am proud to have served as a member of the Infosys Board and as its chairman. The Board has made the most appropriate choice in nominating Seshasayee as my successor, given his vast and varied experience in leading large public companies, and his strong contribution to Infosys, during the last four years of his association. Infosys will benefit greatly from his sagacity.”
Seshasayee added, “Infosys is an iconic company and I am thankful to Mr. Kamath and the Board for entrusting me with this privilege. In order to devote requisite time and attention to this responsibility, it is my intention to substantially disengage from my other current responsibilities in due course. I look forward to working even more closely with the Infosys Board and management team as we navigate this period of transformation for the company.”
“On behalf of all Infoscions, I would like to thank Mr. Kamath for his extraordinary contribution to Infosys over the years and wish him the very best. He has been a great mentor to me personally and I look forward to his continued guidance as a well-wisher of this company. I warmly welcome Mr. Seshasayee’s appointment as chairman. We have a lot to do and I am excited to work with him to accelerate our plans for the future,” said Infosys CEO and MD Vishal Sikka.
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.
