Page 55 - IACC Newsletter March 2013 Issue no. 9

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Only 14 of the 50 companies in this year’s list were featured on the previous list, demonstrating the rapid change and
proving a spot on the list was less secure and more valuable than being featured on other industry lists, said a press
announcement.
Jason Pontin, publisher and editor-in-chief of MIT Technology Review, said, “The pace at which technology changes is
astounding. This issue celebrates organizations at the forefront of radical change, displaying ‘disruptive innovation’ that
would prove to surpass competition, transform an industry and change our lives.”
InMobi has customers in 165 countries. About a billion unique users receive advertisements from the company on a monthly
basis.
“It validates we are disrupting the space of mobile advertisement. I think over the next 10 years, the cumulative spend on
mobile advertisement globally would be about $500 billion, and we want to be part of this growth,” said Naveen Tewari, co-
founder and chief executive, InMobi.
Founded in 2007, InMobi employees 800 people and has raised about $215.5 million. According to the details provided by
MIT Technology Review, the company has been challenging Google and Apple in the mobile ads market.
Cadbury India slapped with a Rs.252 crore excise penalty
The unpaid taxes date to 2010 when the company set up a facility in Baddi
In a notice spanning 103 pages, a copy of which is with Forbes India, the Directorate General of Central Excise Intelligence has given the company 30
days to respond
Indian tax authorities have tightened the screws on Cadbury India. At the end of a three year investigation the company has
been asked to explain why it shouldn’t be held liable for Rs 252 crore ($45 million) in unpaid taxes dating back to 2010.
The news comes as a setback to Cadbury India, which has steadfastly denied any wrongdoing and maintained that it acted
on legal advice offered while setting up a new unit in Baddi, Himachal Pradesh. The tax demand also has the potential to
significantly dent the anticipated savings of Rs 521 crore over a ten year period the company hoped to make by setting shop
in Baddi. “We are committed to our Baddi facility,” a Cadbury India spokeswoman said.
In a notice spanning 103 pages, a copy of which is with Forbes India, the Directorate General of Central Excise Intelligence
has given the company 30 days to respond. “We plan to contest the show cause as we firmly believe our executives acted in
good faith based on legal advice in the decision to claim excise benefit in respect of our plant in Baddi, “said a Cadbury India
spokeswoman.