MAM
Uplinking clearance for NDTV business news channel
MUMBAI: The Prannoy Roy-promoted NDTV Ltd has finally got permission from the government to uplink its proposed business channel from India.
A government source confirmed the move, saying the green signal was given earlier this month. However, the source refused to provide any further details on whether NDTV has finalised a name for its business channel. According to industry sources, is likely to be headed by NDTV business editor Shivnath Thukral or Ashu Dutt who has had stints at CNBC-TV 18.
If the city-based broadcasting industry sources are to be beleived, the yet-to-be-named business channel from the NDTV stable is also likely to be formally commissioned some time next month.
Though NDTV had mentioned that it is targeting the end of 2004 for the launch of a business channel, indiantelevision.com had reported last month that the channel’s launch had got deferred till the first quarter of 2005. And professionals for the NDTV business channel are still being inducted.
After the uplink permission from the information and broadcasting ministry, NDTV will have to get several other clearances from various agencies, including the department of telecommunications.
It is, however, not clear whether the proposed business channel would be beamed via an Insat or a foreign satellite. The two existing news channels, NDTV 24×7 and NDTV India, are on PAS-10 satellite.
Despite the delay, NDTV has been making good use of time available by airing primarily business-related programming and news on NDTV 24×7 for the last several months, which have got them good ratings too vis-Ã -vis competition.
The NDTV board had approved launch of a separate business news channel in May. The company had made an application to the information and broadcasting ministry for uplinking permission for the same in September.
Information available with indiantelevision.com indicates that NDTV business channel’s differentiating pitch will be that it would cover a far wider canvas than the focus on stock markets that CNBC-TV18 is still perceived as having.
The fight for the business news channel has begun, it seems. The Raghav Bahl-promoted Television Eighteen Ltd (TV-18) is pressing ahead to meet a new deadline for launching a Hindi business news channel by next month, while Zee Business, was launched on 30 November.
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.
