MAM
Swiggy elevates Phani Kishan Addepalli as co-founder
Mumbai: Swiggy has elevated Phani Kishan Addepalli, its vice-president for strategy and investments to a co-founder’s role, the food delivery app’s CEO Sriharsha Majety announced in a blog post on Monday.
This will make Phani the third Swiggy co-founder, joining the original co-founders Sriharsha Majety and Nandan Reddy. Another co-founder and chief technology officer Rahul Jaimini had exited in May 2020 to join Pesto Tech, a career accelerator startup.
Phani’s elevation follows after the recent development of the company’s COO Vivek Sunder leaving in October. Majety will be overseeing the company’s food delivery business until they find a replacement.
“Phani joined us very early on in 2015, and has been my fixer and go-to guy for many important problems for as long as I can remember. Over these 6 years, he’s probably had the record for setting up multiple high leverage functions from the ground up,” Majety wrote in the blog post.
Majety said Kishan has played a key role in shaping the company’s value. “His energy, can-do attitude, and founder mentality are all goal-worthy for any Swiggster to succeed here and make a huge impact in the company’s future,” Majety wrote.
“His approach to building new and enduring organisational capabilities (read superpowers) has always been a force multiplier for us, and I can’t wait to see him go on and take new challenges to build even more superpowers in the years to come,” Majety wrote.
Kishan joined Swiggy in 2015 as general manager – strategy, analytics, CX & new initiatives. Prior to that, Kishan had a stint with companies like The Boston Consulting Group, ITC Limited, and Softeon.
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.
