MAM
Vedanta Group ropes in former PTI CEO MK Razdan
NEW DELHI: Vedanta Group has roped in MK Razdan, former CEO and editor-in-chief of PTI as a senior advisor- corporate communications team. He will be based out of Delhi.
Razdan is a well known name in the industry and has spent over three decades in the industry.
The veteran journalist became PTI’s general manager in 1995, after serving the organization as its bureau chief in its one-member bureaus first in London, then New York. He was later elevated as CEO and editor-in-chief of the organization.
Roma Balwani, Director, Communications & Brand, Vedanta, has welcomed Razdan to 'Team Vedanta' in a tweet earlier today.
We welcome Mr. M K Razdan in our midst. Team Vedanta.
— Roma Balwani (@RBalwani) September 24, 2020
M K Razdan, former CEO & Editor-in-Chief, of Press Trust of India (PTI) to take new role with Vedanta Group as Senior Advisor- Corporate Communications and will be based at Delhi. pic.twitter.com/6r49qoTZxe
— Anup Sharma B'Harry (@TweetsAnup) September 24, 2020
Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, Iron ore, Steel, Copper, Aluminium, Power, Oil and Gas. It supplies natural resources that help the world grow.
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.
