Brands
Tata Consumer Products faces Rs 98 crore tax demand
Income tax authorities raise significant demand for the 2022-23 financial year
MUMBAI: Tata Consumer Products Limited has received an assessment order from the income tax department involving a substantial financial demand. The order, issued by the assistant commissioner of income tax in Kolkata, was received by the company on 13 March 2026. It follows an audit of the income tax returns filed for the 2022-23 financial year, during which the assessing officer made specific additions and disallowances to the company’s reported income.
The total demand raised by the authorities amounts to Rs 98,03,33,930, a figure that includes both the principal tax amount and accrued interest. This disclosure was made by the company’s company secretary & compliance officer, delnaz dara harda, in a formal filing to the National Stock Exchange and BSE Limited on 14 March 2026. The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In response to the order, Tata Consumer Products has stated that it believes the demand is not maintainable under current law. The management has confirmed that the company is currently in the process of filing an appeal against the assessment. Furthermore, the company clarified that there is no immediate impact on its current financial standing, operations, or other corporate activities resulting from this specific order.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
