MAM
Saurabh Varma gets promoted as Leo Burnett South Asia CEO
MUMBAI: Leo Burnett Asia Pacific CEO and Chairman Jarek Ziebinski announced Saurabh Varma as CEO of South Asia operations for his agency. Varma currently heads Leo Burnett’s India operations as the CEO.
The appointment, effective as of 17 November, will see Varma take responsibility of Leo Burnett agencies across Mumbai, New Delhi, Bangalore, Chennai, Sri Lanka, Pakistan and Bangladesh.
“South Asia is an important region for Leo Burnett from our global strategy perspective. With Saurabh’s appointment, we want to further enhance connectivity of our operations across these dynamic markets to drive business growth for our clients and the agency” said Ziebinski.
Commenting on his new role, Varma added, “We have incredible operations across Pakistan, Sri Lanka and Bangladesh. I look forward to working with some talented leaders to build new age specialist functions across all markets and create larger futures for our clients.”
Prior to his role current role as Leo Burnett India CEO, Varma was the Asia-Pacific Chief Strategy Officer, where he oversaw all heads of strategy and planning directors in the region.
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.
