Brands
Rishabh Pant rides in as brand ambassador of Hercules
Mumbai: Hercules, a homegrown bicycle brand from the stable of TI Cycles of India, has on-boarded Indian cricketer Rishabh Pant as its brand ambassador to promote the cycling culture amongst urban teenagers of the country.
Being one of the most promising young cricketers and captain of the Delhi Capitals team in the Indian Premiere League and part of India’s T20 World Cup squad, Pant is admired by millions of fans all across the cricketing world. The association will surely shape the perspective towards cycling and outdoor adventure for the urban youth who idolise cricket and sports in the country, said the brand in a statement.
“Hercules has always been a choice for young boys who wish to discover their spirit of adventure and exploring with friends through cycling,” said TI Cycles of India president KK Paul. “In a similar manner, Rishabh Pant, as an athlete has influenced teenage boys to pursue their goals with passion and determination. With this association, we are on a journey to support that inspiration to pursue their dreams and achieve their goals, relentlessly.”
Hercules strives to fulfill the bicycling needs of the urban teenage boys of the country. Over the years, the brand has introduced a range of cycles such as Top Gear, Rockshox, Dynamite, Brut, Street Cat series, to name a few, said the statement.
“Bicycles were such an integral part of my childhood and I have many fond memories associated with it. I used one to get to school and then to cricket practice, and it was always something that gave me a sense of freedom,” said Pant. “I personally believe that cycling is one of the best ways to bring out the adventure in you and spend more time being active outdoors, hence, I am eager to contribute in my way to educate and encourage our young boys towards adventure through Hercules.”
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.
