Another Leadership Exit at Zomato, Hyperpure's Hemal Jain Resigns Amid GST Demand Notice

The global head of finance and chief financial officer of Hyperpure (Zomato’s B2B grocery supply vertical), Hemal Jain has put her resignation papers. The food and grocery delivery platform Zomato announced her resignation to the Bombay Stock Exchange (BSE). Jain has written the letter to Zomato chief financial officer Akshant Goyal.

“I hereby tender my resignation as Head - Business Finance of the Company. Please accept my last working day as 31st Jan, 2025. I have had the privilege of being part of the Zomato journey and its dynamic team over the past 6 years,” the letter read as quoted by The Times Of India.

“However, after much reflection, I have taken this tough decision to move on and explore a different path. I take this opportunity to thank everyone in Zomato for the support extended to me during my tenure. I wish Zomato the very best for continued success,” she added.

Notably, this is the second senior management departure at Zomato in the part few months. Zomato cofounder and chief people officer Akriti Chopra had also resigned with “immediate effect” in September. Days after Chopra's resignation, Zomato's independent director Gunjan Tilak Raj Soni also stepped down "immediately" from her position.

Read More | Zomato Co-Founder and Chief People Officer Akriti Chopra Resigns

GST Dispute Looms

Jain joined Zomato in 2018, and will end her term with the Gurugram-based company on January 31, 2025. She is among Zomato’s senior management team that worked on its IPO in 2021. Her departure comes after Zomato was slapped with Rs 803 crore demand notice by the goods and services (GST) authorities.

The demand notice comprises GST of Rs 401.7 crore with interest as applicable and a penalty of Rs 401.7 crore. The notice was received by the company with regards to non-payment of GST on delivery charges with interest and penalty. The food delivery giant has informed the exchanges that they will file an appeal against the appropriate order.

Read More | 10-Minute Food Delivery Market Heats Up as Zomato, Zepto Launch Standalone Apps

In December 2023 also, Zomato received a Rs 402 crore show cause notice from the GST department. This again was related to the non-payment of taxes for the delivery fee. The notice was issued from a period of October 29, 2019, to March 31, 2022. 

However, the food delivery giant at that time mentioned that they are not eligible to pay taxes on delivery fees, as the same are collected on behalf of its delivery partners.