MAM
Tribeca taps Ankush Kaul to lead sales & business expansion
Mumbai: Tribeca, the developers of Trump Towers in India has announced the appointment of Ankush Kaul to head the sales and marketing of the company.
Kaul comes with diversified experience spread across the Indian real estate market, financial services and hospitality. Prior to joining Tribeca, he has held multiple leadership roles at notable real estate companies such as DLF, Ambience, M3M and Central Park where he has overseen sales in excess of a billion dollars.
Welcoming Kaul to the team, Tribeca founder Kalpesh Mehta Developers said, “I am delighted to have someone as sharp and experienced as Ankush join the Tribeca team. In addition to his excellent track record in the real estate sector, his style of working and personality is an ideal fit for Tribeca. We’re in a great position to lead the luxury and premium residential sector in India and I believe Ankush will be a key asset to the Tribeca team. Being an asset-light developer, we’ve constantly introduced innovative projects in the country, and Ankush’s experience of selling aspirational homes and experiences aligns well with our ethos.”
Kaul believes that given the liquidity growth in the market, the post Covid-19 cycle in the residential space is showing promising signs. With people spending more time indoors and enjoying their personal space, it has led to a substantial increase in customer’s intent to own carefully designed spaces. According to him, this is a great opportunity for Tribeca to play a key role in consolidating the market and bring forth their most valuable projects in the form of Trump Towers Delhi NCR and The Ark – Pune.
“Being the exclusive representative of the uber-luxurious Trump brand in India, Tribeca has made a distinct name for itself in the luxury and premium real estate sector in India,” Ankush Kaul said. “They have ambitious plans of elevating the standards of residential real estate for the Indian homebuyers through their amazing value proposition, a strong leadership team, and extremely talented employees. I’m ecstatic to join them at this time of growth and look forward to working with Kalpesh, Harshwardhan, and the other stakeholders at Tribeca.’’
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.
