MAM
Zyod stitches up leadership with Ankit Shukla as VP of Business
MUMBAI: Zyod is tailoring its leadership for growth with the appointment of Ankit Shukla as vice president of business. With over 20 years of experience in business expansion and strategic transformation, Shukla is set to weave innovation into Zyod’s B2B fashion manufacturing ecosystem, enhancing agility, scalability, and global outreach.
In his new role, Shukla will lead strategic market expansion, revenue growth, and supply chain optimisation, integrating AI and automation to make fashion sourcing faster and more sustainable.
Expressing his vision for the role Ankit Shukla said, “I am excited to join the talented team at Zyod and contribute to its mission of innovation and disruption in the fashion industry. My focus will be on strengthening Zyod’s position as a global leader in agile fashion manufacturing, leveraging AI and automation to enhance speed, scalability, and sustainability in fashion sourcing. Together, we aim to meet the evolving demands of the market and drive transformative growth for brands worldwide.”
Zyod co-founder, Ankit Jaipuria said, “Ankit’s expertise and strategic acumen in apparel manufacturing will be invaluable as we drive Zyod’s growth forward. His leadership will play a crucial role in strengthening industry alliances, expanding our global presence, and reinforcing our position as a leader in the fashion manufacturing space.”
Before Zyod, Shukla spearheaded multi-million-dollar expansions at PDS Limited and Concord Ventures Group, building global partnerships and optimising supply chain operations. With his keen eye for market trends and efficiency, Zyod is all set to tailor a new era of growth in fashion manufacturing.
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.
