MAM
Shailesh Pathak joins as executive director of Bhartiya Group
MUMBAI: Bhartiya Group has announced the appointment of Shailesh Pathak as its new executive director.
Pathak will be responsible for the company’s foray into new ventures in city development and affordable housing, as well as public-private partnership initiatives.
He will also lead the Group’s relationships in finance, industry and international bodies and report to the group founder and chairman Snehdeep Aggarwal.
Welcoming Pathak to the company, Aggarwal said, “We are extremely pleased to have an eminent professional like Pathak join the Bhartiya team. With his strengths in finance, infrastructure and public policy, Pathak will spearhead our foray into new ventures. We are confident that given his in-depth know-how and vast experience, he will propel the Group to greater heights adding a new dimension to our business vision.”
After starting his career as an investment banker with ICICI in 1986, Pathak worked with SREI Infrastructure Finance as president – corporate strategy for four year before joining Bhartiya Group, where he focused on international capital for Indian Infrastructure. Prior to this, he was managing director, PE Indian Infrastructure Fund out of London/Geneva.
Post ICICI, he subsequently joined the government in the Indian Administrative Service (IAS) and served in various capacities during his 16 year tenure. He served as managing director of state infrastructure development corporation and secretary PWD for six years. Rejoining the private sector in 2006, he came to IDFC as head-PPP, and returned to the ICICI group to lead private equity investments into infrastructure as senior director-investments with ICICI Venture, Mumbai for two years.
Pathak is an MBA from IIM Calcutta and holds a bachelor’s degree from Shriram College of Commerce, Delhi. He is also a law graduate.
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.
