Brands
Reliance, Surrey join hands as Oval Invincibles rebrands to MI London
MUMBAI/LONDON: Reliance Industries and Surrey County Cricket Club have struck a partnership to run the Oval Invincibles franchise in The Hundred, assuming ownership from the England and Wales Cricket Board. The deal gives Reliance a 49 per cent stake and Surrey 51 per cent. From 2026, both the men’s and women’s sides will play as MI London.
The Invincibles are The Hundred’s standout force, sweeping five titles in five years – with the women taking the first two and the men landing three in a row from 2023 to 2025. Their dominance has been driven by Surrey talent such as Sam Curran, Tom Curran, Will Jacks and Alice Capsey, alongside global stars including Marizanne Kapp, Rashid Khan and Adam Zampa.
Mumbai Indians, owned by Reliance, bring deep experience in franchise cricket, with seven teams across five countries and a haul of 13 titles, including five IPL wins and two Women’s Premier League trophies. Every team in the MI portfolio now holds a championship.
Nita M Ambani said, “We are delighted to welcome MI London into the One Family and take the MI legacy to new frontiers. London holds a special place in the heart of cricket, and we are honoured to be part of its rich heritage.”
Akash Ambani said, “The Invincibles’ winning record and spirit of excellence perfectly embody the MI ethos of passion, resilience, and teamwork. Building on our shared passion for cricket, we look forward to collaborating with our partners at Surrey CCC and building on the legacy of The Hundred’s most successful team.”
Surrey chair Oli Slipper said Reliance’s record in cricket and business made them ideal partners. The MI London identity, he added, would help build a bigger global fanbase and strengthen long-term investment in Surrey cricket.
Brands
Tata Consumer Products faces Rs 98 crore tax demand
Income tax authorities raise significant demand for the 2022-23 financial year
MUMBAI: Tata Consumer Products Limited has received an assessment order from the income tax department involving a substantial financial demand. The order, issued by the assistant commissioner of income tax in Kolkata, was received by the company on 13 March 2026. It follows an audit of the income tax returns filed for the 2022-23 financial year, during which the assessing officer made specific additions and disallowances to the company’s reported income.
The total demand raised by the authorities amounts to Rs 98,03,33,930, a figure that includes both the principal tax amount and accrued interest. This disclosure was made by the company’s company secretary & compliance officer, delnaz dara harda, in a formal filing to the National Stock Exchange and BSE Limited on 14 March 2026. The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In response to the order, Tata Consumer Products has stated that it believes the demand is not maintainable under current law. The management has confirmed that the company is currently in the process of filing an appeal against the assessment. Furthermore, the company clarified that there is no immediate impact on its current financial standing, operations, or other corporate activities resulting from this specific order.
