MAM
Wavemaker appoints Ajay Gupte as COO, south asia
MUMBAI: Wavemaker, the global media, content, and technology agency, today announced the appointment of Ajay Gupte as the Chief Operating Officer for Wavemaker, South Asia.
Ajay joins from Wavemaker Indonesia where he was Managing Director of the agency. Ajay has successfully led the MEC-Maxus merger in Indonesia. Under his stewardship, Wavemaker Indonesia won several blue-chip clients and many global and local accolades for the agency.
Ajay has rich experience of over 23 years in media, sales and marketing spanning across markets like India, Africa and Indonesia. Prior to joining Wavemaker Indonesia, he has spent over 15 years in India with Maxus (now part of Wavemaker) handling clients like Nokia and Hero MotoCorp to name a few. Earlier to Wavemaker, Ajay has had extensive cross-functional stints with TVS Motor Company.
In his new role, Ajay will be located at Wavemaker Delhi office and will report into Kartik Sharma, CEO – Wavemaker, South Asia.
Commenting on the appointment, Kartik Sharma, CEO – Wavemaker, South Asia said, “It is an absolute pleasure to have Ajay back in India. Under his leadership as MD of Indonesia since 2011, Wavemaker (erstwhile MEC) has grown exponentially and is now ranked as top 3 agency in the country. I am confident with his strong experience of agency and client domain, Ajay will be will be able to grow Wavemaker further as an agency of the future.”
Commenting on his new role, Ajay said, “I am very excited to be back in India. The media scene in India is vibrant and offers unlimited opportunity for marketeers. With our future-focused offering around Media, Content, and Technology, Wavemaker is uniquely positioned to deliver maximum impact for our clients. I am delighted that the next lap of my journey continues with Wavemaker where I can contribute to delivering this promise.”
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.
