MAM
TVS Srichakra Ltd launches Brand TVS Eurogrip: Aimed At Millennials
MUMBAI: TVS Srichakra Limited, the leading 2 & 3-wheeler tyre company, today announced the launch of the brand ‘TVS Eurogrip’ targeted at meeting the needs of the millennial customer. TVS Eurogrip is born out of extensive consumer research and significant investments in global R&D, design and technology platforms. As part of its evolution and to associate itself with youthfulness and high performance, TVS Eurogrip is designed with global expertise, made in India and sold across the globe.
Mr. P Vijayaraghavan, Director, TVS Srichakra Limited said, “India will remain a promising market for two wheelers and we see tremendous growth opportunity. It is a moment of immense pride for all of us as we launch TVS Eurogrip catering to the needs and requirements of the new age Indian rider. With this step, we boldly stride into the future.”
The company believes that the introduction of TVS Eurogrip will fuel its growth aspirations and carve a specialist positioning that will help strengthen its partnerships with vehicle manufacturers and create new benchmarks in the replacement market.
Commenting on the new brand launch Mr. P. Srinivasavaradhan, President, TVS Srichakra Limited, said, “For over 3 decades now, we have established ourselves as a leading global brand in the two-wheeler tyre category. We have always understood customers’ needs, their aspirations and dreams, and have provided them with products that enrich their riding experience. TVS Eurogrip has all the elements the new age rider is looking for – design, superior quality, high performance and is backed by the rich heritage and trust of TVS.”
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.
