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Zaggle appoints Nilesh Dadpe and Rajesh Tummalaganti to senior roles
MUMBAI: Zaggle Prepaid Ocean Services Limited, India’s leading spend management and SaaS-led fintech player, has added fresh muscle to its senior leadership bench with two key appointments aimed at fuelling growth and tightening governance.
The company has named Nilesh Dadpe as executive vice president for cross sell and Rajesh Tummalaganti as deputy chief financial officer, signalling a clear intent to grow smarter while staying financially disciplined.
Dadpe steps in with a brief that is all about making more of what Zaggle already has. He will focus on deepening relationships with existing corporate clients and encouraging wider adoption of Zaggle’s solutions. With years of experience in enterprise sales and solution-led growth, his role is expected to boost customer lifetime value and turn long-term partnerships into steady, profitable momentum.
On the numbers side, Tummalaganti takes charge as deputy CFO, bringing a sharp eye for financial controls, compliance and strategic planning. His mandate includes strengthening reporting frameworks and supporting capital decisions, ensuring Zaggle’s finances remain as agile as its technology as the company grows its listed fintech footprint.
Zaggle founder and executive chairman Raj P. Narayanam, said the appointments reflect the company’s focus on balance. Growth, he noted, must go hand in hand with trust and transparency. While Dadpe adds firepower to the revenue engine, Tummalaganti reinforces the guardrails that keep the business steady.
Together, the expanded leadership team is expected to play a pivotal role in accelerating portfolio expansion, improving operational efficiency and delivering sustained value to customers, partners and shareholders. In short, Zaggle is tuning both its accelerator and its steering wheel as it heads into its next phase of growth.
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.
