MAM
TBWA acquires India’s digital agency Magnon
MUMBAI: Omnicom‘s global advertising agency network TBWA has acquired Indian digital entity Magnon Group.
The acquisition includes the domestic digital agency Magnon Solutions and digital outsourcing agency Magnon International that serves clients across five continents.
With immediate effect, Magnon will become part of the TBWA Group of companies in India. The digital agency, Magnon Solutions, will join TBWA‘s global Digital Arts Network (DAN) and the digital outsourcing company, Magnon International, will become part of E-Graphics and an accelerator for DAN‘s production offering.
Magnon was founded in 2000 by Vineet Bajpai and employs nearly 150 professionals between Mumbai and New Delhi. He will continue as founder and CEO of Magnon Group. The group offers clients the full spectrum of digital services, including graphic design for web and mobile; digital marketing; search and social media optimisation; bespoke technology applications development; online brand strategy consulting; eCommerce solutions; and mobile sites and apps development.
TBWA Worldwide president – international Keith Smith said, “We are delighted to join forces with Magnon Group. We‘ve been extremely impressed with both their digital capabilities and the strength of their management team. Globally, TBWA is building a strong, integrated digital network and we‘re confident that Magnon Group will deliver the expertise and talent we need to deliver innovative work and added value for our clients in India.”
Bajpai said, “Being a part of TBWA is an ambition fulfilled. TBWA‘s global reach and excellence will provide Magnon with the right platform towards becoming a market-leading digital agency in India and the region. And TBWA‘s empowering culture allows us to retain our adaptability and entrepreneurial fabric.”
TBWAIndia‘s chief executive officer Shiv Sethuraman said, “I believe this is a game-changing event for the TBWA Group in India. After successfully setting up The Integer Group® India, our retail and shopper marketing company last year, the acquisition of Magnon makes us a uniquely positioned agency in India – one that is ahead of the curve in the disciplines that will matter most in the years to come. Magnon is a solid and proven digital player with great depth and talent. I am delighted to welcome Vineet and his team to the TBWA family.”
Omnicom president and chief executive officer John Wren commented, “TBWA‘s partnership with Magnon is a reflection of Omnicom‘s continued commitment to building its strengths and capabilities across the Indian subcontinent, in an effort to support the growing needs of our client‘s regional marketing objectives.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
