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Another Leadership Exit at Zomato, Hyperpure's Hemal Jain Resigns Amid GST Demand
OutlookIndia
·
7m ago
Medial
Hemal Jain, global head of finance at Hyperpure, a Zomato vertical, resigned amid a Rs 803 crore GST demand notice issued to Zomato. This follows other recent senior management departures, including cofounder Akriti Chopra and independent director Gunjan Tilak Raj Soni. Jain, who joined Zomato in 2018 and was involved in its 2021 IPO, will leave on January 31, 2025. Zomato plans to appeal the GST order related to non-payment on delivery charges.
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Related News
Zomato’s Business Finance Head Hemal Jain Quits
Inc42
·
7m ago
Medial
Hemal Jain, the head of business finance and Hyperpure CFO at Zomato, has announced her resignation. Jain, who joined the foodtech company in 2018, will leave on January 31, 2025. This comes after Akriti Chopra, Zomato's co-founder and CPO, resigned earlier this year.
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Eternal’s Food Delivery COO Rinshul Chandra resigns
Entrackr
·
4m ago
Medial
Eternal’s Food Delivery COO Rinshul Chandra resigns Eternal Limited (Zomato) has announced the resignation of Rinshul Chandra, Chief Operating Officer of its Food Ordering and Delivery business. Chandra, a key member of the company’s senior management, tendered his resignation on April 5 and will officially step down on April 7. According to the company’s filing with stock exchanges, Chandra is stepping down to pursue new opportunities and passions aligned with his evolving personal and professional goals. Chandra joined Zomato (now Eternal) in 2018 as Assistant Vice President of Product and steadily rose through the ranks, serving as Vice President, Head of Business, and eventually taking on the role of Chief Operating Officer for the food delivery segment. Eternal Limited has not yet announced a replacement for Chandra. The development comes shortly after mass layoffs at Zomato. According to media reports, the company let go of around 600 customer support associates within a year of hiring them. Over the past year, Zomato has seen several key departures. Hemal Jain, who served as Global Head of Finance and CFO of Hyperpure, stepped down. Akriti Chopra, the company’s co-founder and Chief People Officer, also left. In October last year, Gunjan Soni resigned from her position as an Independent Director. Zomato recently rebranded itself to Eternal, which will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure.
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Paytm’s Head Of Compliance Srinivas Yanamandra Resigns
Inc42
·
7m ago
Medial
Srinivas Yanamandra, the Head of Compliance at Paytm, has resigned from his position. His departure comes amid ongoing regulatory scrutiny faced by the company, particularly concerning its financial practices and compliance measures. Yanamandra's exit is part of a broader trend of leadership changes within Paytm as it navigates challenges in the fintech sector. The company aims to strengthen its compliance framework and address regulatory concerns moving forward.
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Zomato's global finance head Hemal Jain quits
YourStory
·
7m ago
Medial
Zomato's global finance head, Hemal Jain, will be leaving the company by the end of January 2025 to pursue other opportunities. Jain, who has been with Zomato for six years, served as the global head of finance and CFO of Hyperpure. During his tenure, Jain played a significant role in financing Zomato's largest acquisition of Blinkit. Additionally, he focused on cost optimization and profitability enhancement, leading the company from a high monthly burn to organizational profitability. Jain's departure follows the resignation of Zomato's co-founder and chief people officer, Akriti Chopra, in September 2024.
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Eternal appoints Aditya Mangla as CEO of food delivery business
YourStory
·
1m ago
Medial
Eternal appointed Aditya Mangla as CEO of its food delivery business at Zomato, replacing Rakesh Ranjan. Ranjan stepped down after a two-year tenure but will remain with the company. Mangla, with over four years at Zomato, previously led product, supply, and customer experience for the food delivery arm. This leadership change is part of an internal reshuffle aiming for fresh perspectives amid a slowdown in Zomato's growth, attributed to reduced demand and increased competition.
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Zomato gets GST demand worth Rs 8.6 crore from Gujarat for availing excess input tax credit
IndianStartupNews
·
1y ago
Medial
Food delivery giant Zomato has received a substantial Goods and Services Tax (GST) demand from the Deputy Commissioner of State Tax, Gujarat. The demand order, totaling INR 8.57 crore, is a result of discrepancies found during an audit of Zomato's GST returns and accounts for the fiscal year 2018-19, including excess input tax credit and short payment of GST. Zomato will contest the order before appellate authorities and expects no financial impact from the dispute. This is not the first time Zomato has faced GST-related notices, highlighting the regulatory challenges it faces in its operations.
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Zomato receives GST demand worth ₹23.26 crore from Karnataka govt
Inshorts
·
1y ago
Medial
Zomato has received a demand notice worth ₹23.26 crore from GST authorities of Karnataka government. The demand, which includes penalty worth ₹1.12 crore and interest worth ₹10.86 crore on GST of ₹11.27 crore, has been raised for excess availment of input tax credit. Zomato said it had clarified with relevant documents, "which appear to not have been appreciated by authorities".
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Zomato’s GST Troubles: Foodtech Giant Receives Another Demand Notice
Inc42
·
11m ago
Medial
Zomato has been hit with a GST tax demand of INR 1.89 lakh, along with interest and penalty, by the Sales Tax Officer in Delhi. The food delivery platform has stated that it will pay the applicable dues and the cost of litigation. This comes after Zomato received GST tax demand and penalty orders totaling INR 4.59 crore from authorities in Tamil Nadu and West Bengal earlier this week.
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Zomato gets Rs 4.59 crore tax demand notices
Economic Times
·
11m ago
Medial
Food delivery platform Zomato has received GST tax demand orders exceeding Rs 4.59 crore from Tamil Nadu and West Bengal authorities. The company plans to appeal against the demand. Tamil Nadu issued an order for GST of Rs 81,16,518, plus applicable interest and penalty, while West Bengal issued an order for GST of Rs 1,92,43,792, along with interest and penalty. Zomato stated that it has provided clarification along with relevant documents, and believes it has a strong case to defend the matter. The company does not anticipate any financial impact.
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Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over
Entrackr
·
3m ago
Medial
Globalbees CEO Nitin Agarwal resigns, Anuj Jain takes over According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. Brainbees Solutions Limited, the parent company of FirstCry, has announced a key leadership change at its subsidiary, Globalbees Brands Private Limited. Nitin Agarwal, who served as the CEO and director of Globalbees Brands, has stepped down from his role due to personal reasons. According to a regulatory filing, Agarwal officially ceased to be a director of Globalbees and a senior management personnel of Brainbees Solutions as of April 24. He will, however, support transition activities until May 23, 2025. Stepping into the role is Anuj Jain, who has been appointed as the new CEO of Globalbees Brands and designated as a senior management personnel of the company. Jain currently serves as the chief business officer (CBO) of FirstCry’s pre-school segment and senior vice president of marketing. A part of the company’s leadership team since July 2012, Jain brings over 23 years of industry experience, having previously worked at ITC and L'Oréal. E-commerce roll-up firm GlobalBees last raised $18 million in a debt round from Avendus in February 2024. To date, the company has secured over $270 million in funding, including a $111 million Series B round in December 2021, which propelled it to unicorn status. In FY24, the FirstCry group recorded a 15% year-on-year increase in revenue from operations to Rs 6,481 crore, with GlobalBees contributing Rs 1,209 crore to the group’s total revenue.
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