MAM
Wimbledon ad spots sold out: ESPN Star
MUMBAI: As top tennis players in the world get ready to vie for the esteemed Wimbledon title, sports broadcaster ESPN Star is wide smiled as it has managed to sell out all the ad spots.
Brands like Rolex, Thai Airways, Nokia and IBM are among the nine sponsors on board. Six others, including Red Bull, Pernod Ricard and Renault India, have also booked spots.
“In the past 7-8 years, Wimbledon ad spots have always been sold out and this year the story is the same,” ESPN Software India executive VP Sanjay Kailash, told PTI.
Asked about the ad revenue, he declined to comment but said the rates have gone up between five per cent and 10 per cent as against last year.
According to media planners, the broadcaster is charging about Rs 20,000-Rs 25,000 for a 10-second spot.
Kailash said the championship, which will be held from 24 June to 7 July this year, will be telecast on three channels, Star Sports 2, ESPN and ESPN HD in India.
“There will be 150 hours of live matches, which is more than 25 per cent from last year. The number of different live matches will also increase,” he said, adding, viewership would also increase considerably.
According to industry estimates, Wimbledon viewership in India last year was about 20-25 million.
In an attempt to promote the event, the broadcaster has already rolled out campaigns on its different channels, and also during the ongoing ICC Champions Trophy, clearly leaving no stone unturned to make the grand slam event a grand success.
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.
