Brands
Sahibandhu becomes Manipal Fintech amid gold credit boom
MUMBAI: Sahibandhu, has officially rebranded as Manipal Fintech Pvt. Ltd. The transformation reflects the company’s sharpened focus on delivering future-ready, technology-led financial solutions at scale.
The rebrand comes at a time when demand for gold-backed credit is on the rise across India. Manipal Fintech aims to tap into this momentum while expanding into adjacent financial services, targeting underserved regions, and investing in next-gen fintech infrastructure.
Manipal Fintech CEO Puja Singh shared, “The transition to Manipal Fintech is more than a rebranding, it is a reflection of the evolution we have undergone as a company and the future we are committed to building. Over the years, we have earned the trust of customers and banking partners by delivering transparent, secure, and seamless gold loan services. With this transformation, we are scaling our efforts to make finance more accessible, seamless, and secure for every Indian. Backed by the Manipal Group’s legacy of trust, we are positioned to lead the next phase of financial innovation, delivering long-term value to customers and partners.”
Having built a strong ecosystem for gold-backed lending in partnership with major Indian banks, the company now sets its sights on broadening its reach and deepening its impact with smarter, faster, and more inclusive financial offerings.
The new identity also brings a fresh visual presence. The logo features a bird forming the letter ‘M’ symbolising financial freedom and upward progress. A blue gradient signifies digital agility, while the gold gradient reflects trust and long-term value creation.
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.
