MAM
Vizeum wins media duties of TI Cycles
MUMBAI: TI Cycles of India, a part of $3.2 billion Murugappa group, has assigned its media duties to Aegis Media‘s Vizeum India.
Industry sources peg the value of the business at Rs 200 million.
The business was earlier handled by Mindshare.
Said TI Cycles & BSA Motors GM Marketing Rajesh Mani, “The professional approach exhibited by Vizeum, coupled with their ability to think beyond traditional solutions, comparative saving on our overall cost as well their involvement in our business at all levels convinced us of this partnership. We look forward to working with them.”
Vizeum will handle the account out of its Chennai office under the leadership of E M Sreeneelakandhan, GM, South.
Averred Vizeum managing director Indian sub-continent S Yesudas, “We are proud of the work we have done on BSA Motors and are thankful to the TI cycle Management and Marketing Team for their faith in us. We will ensure TI cycles will get added to the list of our client ambassadors.”
TI Cycles are the makers of brands like Hercules and BSA.
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.
