MAM
SBI Life joins Paris 2024 Paralympics as gold sponsor
Mumbai: The Paralympic Committee of India announced SBI Life, a life insurance company in India as the gold sponsor for Paris 2024, in New Delhi. SBI Life will act as the official life insurance partner for the Indian Paralympic contingent that is heading to the upcoming Paralympic Games starting on 28 August 2024 in Paris.
The Paralympic Committee & SBI Life have agreed on the sponsorship deal for the upcoming Paris 2024 Paralympic Games and all other Paralympic events for the Paralympic Committee of India in 2024/25.
SBI Life has a strong history of partnering with various Indian & International sporting events over the years. This partnership with SBI Life is part of their endeavor to promote equality, inclusivity, and protection for Indians. SBI Life stands in unison with PCI to promote an inclusive world through para-sports.
SBI Life Insurance chief of brand, corporate communication & CSR, Ravindra Sharma stated, “Our partnership with Paralympics Committee of India (PCI) is a natural extension of our commitment to liberating individuals to pursue their dreams. Our para-athletes have overcome extreme difficulties to represent the nation at a global stage. Para-athletes don’t just compete; they challenge the status quo and inspire us to transcend conventional boundaries. SBI Life’s partnership with PCI is to bring to fore the incredible stories of true grit, resilience and determination of our para-athletes, which can inspire individuals across the board to have the self-belief that they can pursue their passions despite all odds, while simultaneously securing the needs and aspirations of their loved ones.”
He further added, “At SBI Life we continue to delve deeper into its sports strategy with a focus on developing meaningful associations which can raise the bar, both in sports and in life. It’s more than just supporting sports; it’s about empowering people to achieve their extraordinary potential, while simultaneously ensuring familial responsibilities. Thus, our partnerships are a true tribute to the spirit of “Apne Liye, Apno Ke Liye.”
Paralympic Committee of India president Devendra Jhajharia expressed his gratitude towards SBI Life for their partnership for Paris Paralympics 2024. He said, “As the Indian Paralympic contingent is getting ready to better their Tokyo results, it is incredible to see the corporate support coming our way. Our athletes had a great run at Tokyo with 19 medals across disciplines, we’re hoping the contingent will gun for glory and try to outdo the Tokyo performance in Paris. We are delighted to have partnered with SBI Life who are one of India’s top Insurance brands. We would like to welcome them on board to celebrate and cheer our Indian heroes on their quest to conquer Paris.”
With the signing of SBI Life, the Paralympic Committee of India continues to strengthen its unwavering commitment to creating an inclusive world for our Indian para heroes.
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.
