MAM
Upstox extends its partnership with Tamil Nadu Premier League 2022 as associate partner
Mumbai : Upstox extends its partnership with Tamil Nadu Premier League 2022 as associate partner
Sub: The aim of this year’s partnership is to further strengthen its position in the state.
Tags: Upstox, Tamil Nadu Premier League, Shrini Viswanath, K. Shivakumar, Associate partner, partnership, marketing, advertising
Mumbai: Investment platform Upstox (a.k.a. RKSV Securities) announces its continued association with Tamil Nadu Premier League (TNPL) 2022 for the second year in a row as an Associate Sponsor.
This is the sixth edition of TNPL, which begins with the inaugural match between Chepauk Super Gillies and Nellai Royal Kings on 23 June at 7:15 pm. There are 32 matches (28 league matches and 4 play-off matches) that are going to take place in Tirunelveli, Natham (Dindigul), Coimbatore and Salem from 23 June to 31 July. This time around the league will have six double headers and all the evening matches will start at 7:15 pm.
Upstox added that it recently crossed the one crore customer milestone in India, and Tamil Nadu remains one of its most important markets. Partnering with TNPL it explains has previously helped it increase financial inclusion and awareness in the state of Tamil Nadu. The aim of this year’s partnership is to further strengthen its position in the state, while allowing it to expand its reach into other parts of southern India.
Upstox co-founder Shrini Viswanath said, “We are thrilled to associate with Tamil Nadu Premier League. We seek to strengthen our foothold in Tamil Nadu, foster long-term brand love and loyalty, while making a meaningful difference in the lives of cricket enthusiasts. We believe that our collaboration with TNPL will inspire and encourage the audience to participate in the culture of equity investing.”
Upstox was established in 2009 with the aim of making financial investing simple, equitable, and affordable for all Indian investors. It allows investors and traders to invest in equities, mutual funds, derivatives, and exchange-traded funds (ETFs). Majority of Upstox’s customers in Tamil Nadu hail from Chennai, Coimbatore, Kanchipuram, Tiruvallur and Vellore.
TNPL chairman K. Shivakumar said, “We are delighted to partner with Upstox for the second time as our Associate Partner. This partnership will further boost the financial aspirations of TNPL enthusiasts, as well as encourage them to set a firm foot towards their financial planning to ensure a secure future. We look forward to achieving milestones together.”
Tamil Nadu Cricket Association (TNCA) secretary RS Ramasaamy commented on the partnership, “Our association with Upstox has been fruitful, and the TNPL has helped provide momentum for the brand within Tamil Nadu. We are happy to be continuing our collaboration with the brand for TNPL 2022.”
The matches will be played at two new venues: SNR College Ground, Coimbatore, and Salem Cricket Foundation Ground, Salem, along with the regular venues NPR College, Natham and ICL – Sankar Nagar Ground, Tirunelveli. All the matches will be streamed on Star Sports 1 HD, Star Sports 1 and Star Sports 1 Tamil.
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.
