Brands
Raymond names Nameet Srivastava brand head of chairman’s collection
Ethnix founder takes charge of Raymond’s most exclusive portfolio
MUMBAI: Raymond Lifestyle Limited has appointed Nameet Srivastava as brand head – Chairman’s collection, entrusting him with the stewardship of the group’s most elite and ultra-premium portfolio.
Based in Mumbai, Srivastava will oversee strategic direction, design excellence and market positioning for the Chairman’s collection, which sits at the pinnacle of Raymond’s menswear offering.
The elevation follows a 16-year tenure within the Raymond group. Most recently, Srivastava served as category head at Ethnix by Raymond Apparel Limited, a brand he founded and scaled to three-fold growth.
With more than two decades of experience in Indian menswear and ethnic design, Srivastava has played a central role in shaping several of Raymond’s marquee initiatives. He was the creative force behind Ethnix by Raymond and a key contributor to Khadi – The story re-spun.
Earlier in his career at Raymond Limited, he helped set up integrated manufacturing facilities and launched the Park Avenue Women’s line. He also worked closely with James Ferreira and led design at Roopam and Roop Milan, where he drove international expansion across five countries.
A recipient of multiple Images Excellence Awards, Srivastava now takes charge of Raymond’s highest-end design mandate, blending technical expertise in supply-chain management with a long record of brand-building.
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.
