MAM
Srinivasan Swamy re-elected as IAA president for the fourth time
MUMBAI: RK Swamy Hansa group chairman Srinivasan Swamy has been re-elected as International Advertising Association (IAA) India chapter president for the fourth consecutive term.
Swamy, who also holds the post of IAA Asia Pacific vice president development, was elected at the body’s Annual General Meeting (AGM) on 30 September.
Speaking to Indiantelevision.com Swamy says, “IAA in India is already seen as the most active industry body. We will build further on our strength and bring more programs and initiatives that will be embraced by the industry.”
“I am humbled by the confidence shown by the members in choosing me to head this international body in India. The last three years have been exciting in that we demonstrated to the marketing and advertising community through the initiatives and events we held that IAA is a thought leader in many respects. Further the awards that we have instituted were both relevant and meaningful,” he further added.
Hungama.com managing director & CEO Neeraj Roy was re-elected as the vice president for the third term. HBO India former MD Monica Tata was re-elected as secretary and Deshdoot Publications joint MD Janakl Sarda was elected as the treasurer.
In addition, Abhishek Karnani, Vishakha Singh, Jaideep Gandhi, Anand Sankeshwar and Manish Advani were the five members elected as members of the managing committee. Kaushik Roy continues on the committee as the immediate past president.
IAA Asia Pacific area director Pradeep Guha said, “The last few years have seen considerable momentum in terms of the activities IAA has been involved in. This has been reflected in the World Board recognising the India Chapter as the Best Chapter twice consecutively. I am delighted that Srinivasan Swamy will be steering the India Chapter of the IAA this year as well. It could be a period of continued growth as well as consolidation. The presence of young leaders on the managing committee augurs well for the future of the IAA.”
At the first managing committee meeting immediately after the AGM, five additional members were co-opted as per IAA Constitution including M V Shreyams Kumar, Dr Bhaskar Das, Ashok Venkatramani, CVL Srinivas and Pradeep Dwivedi.
Pradeep Guha, Ramesh Narayan, Sam Balsara, MG Parameswaran, Raj Nayak, Atit Mehta, Vikram Sakhuja and Kunal Lalani are the following senior professionals that were invited to be part of the Committee.
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.
