MAM
Favre-Leuba appoints Philippe Roten as CEO
MUMBAI: Favre-Leuba has announced the appointment of Philippe Roten as the new CEO and spokesperson for the brand after the successful tenure of Vijesh Rajan as the brand head. Roten will fully manage Favre-Leuba and lead the transition of the rich history of the brand into a contemporary and exciting future.
Favre Leuba is part of the prestigious Tata Group – a 100-billion-dollar conglomerate, with over a hundred companies across all key continents. Mr Roten brings a wealth of business development experience and significant brand equity building expertise to the company which will be invaluable to the group in this next phase of growth and development.
Roten comes with 18 years of experience in the watch industry which encompasses Retail, Sales, and Commercial Leadership, Managing Brands from the Swatch and LVMH Group, and comes with a strong track record in successfully driving change and improving operating efficiencies.
Speaking on his new role, Philippe Roten said “I look forward to grow the business and brand to great success and celebrate its meritorious achievements with our investors and the team.”
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.
