MAM
Srikant Sastri stepping down from his role as a country chair
MUMBAI: In his more than two and a half decades of experience Vivaki country chair Srikant Sastri will be stepping down from his position on 1 July.
Vivaki CEO Frank Voris said, “Sastri will continue to serve in a consulting capacity for Publicis Groupe in the near term, while also nurturing start-up companies in India and Asia-Pacific as an independent investor and operating partner as it is his desire to work with a new companies. But, he agreed to help the organisation on-board Neev, Resultrix and Convonix.”
“Srikant has successfully orchestrated three acquisitions and integrations that have simultaneously fortified the founding Vivaki agencies, while also solidifying Publicis Groupe‘s position as the leading digital marketing operation in India,” added Voris
For the foreseeable future, Sastri will continue to work closely with VivaKi and also with Razorfish & DigitasLBi in a consulting capacity. For the former, he will surface and evaluate emerging opportunities, exploring tech start-ups who can benefit the agencies of Publicis Groupe and their clients. For Razorfish and Digitas-LBi India.
VivaKi Country Chair Srikant Sastri: “I‘ve successfully completed a big mandate as VCC in India and I am absolutely thrilled that we achieved the goal we set for ourselves 18 months ago—driving digital dominance in India through organic growth and three key acquisitions. We are now twice the size of our largest competitor. With this mission accomplished, I‘d like to focus more on three areas that I am passionate about. In addition to working with start-ups, I intend to foster the Indian start-up eco-system by actively leading key initiatives at professional and trade bodies, including The Indus Entrepreneurs (TIE) and Indian Angel Network. I will also help drive the growth of ventures that are focused on social enterprises and other Indian development issues.”
Sastri has started his career from Ponds India as a regional sales manager than he has also worked with Tara Sinha Associates, TSME, McCann Erickson, Team4U, Solutions Integrated Marketing Services and Growth-For-All.
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.
