Brands
Tata Sons defers decision on chairman N Chandrasekaran’s third term
Term runs till 2027, but board differences are stalling extension talks
MUMBAI: Tata Sons has deferred a decision on whether to extend the tenure of its chairman, N Chandrasekaran, injecting fresh uncertainty into the leadership timeline of India’s largest conglomerate.
The board had last year cleared a third executive term for Chandrasekaran running until February 2027, when he turned 65. However, deliberations on any further extension were put on hold this week after differences emerged during a board meeting, CNBC-TV18 reported, citing people familiar with the matter.
The pause underscores internal strains as the group pushes through an aggressive investment cycle while grappling with uneven financial returns. The Economic Times reported that Chandrasekaran himself asked for discussions on his reappointment to be deferred after some directors raised concerns about mounting losses at several newer businesses.
Those concerns were led by Tata Trusts chairman Noel Tata, the principal shareholder of Tata Sons. Other board members countered that losses were expected in early-stage, capital-intensive ventures designed to secure the group’s long-term position.
Since taking charge in 2017, following the ouster of Cyrus Mistry, Chandrasekaran has driven a phase of expansion and consolidation. Over the past five years, the tata group has nearly doubled revenue and more than tripled net profit and market capitalisation, while committing about Rs 5.5 lakh crore to investments aimed at making the conglomerate “future fit”, according to its latest annual report.
Recent numbers, however, present a more mixed picture. Tata Sons reported a 24 per cent rise in revenue to Rs 5.92 lakh crore in fiscal 2025, while net profit fell 17 per cent to Rs 28,898 crore.
In its annual report, the company said the year opened with expectations of macroeconomic stability and easing inflation. That optimism faded as uncertainty over global trade policy intensified, complicating the operating environment.
For now, the question of leadership continuity at the apex of the Tata Group remains unresolved and closely watched by investors assessing the cost and conviction behind the conglomerate’s long-term bets.
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.
