MAM
‘Ad Age’ adjudges MindShare as Global Agency of 2003
NEW DELHI: MindShare has been awarded the honour of ‘Global Agency of the Year 2003’ by the Advertising Age magazine.
“Meticulous and tenacious, blessed with a stable management team that has been in place since the company’s opening day seven years ago, MindShare is Advertising Age’s Global Media Agency of the Year. More than any of its rivals, MindShare in 2003 won a wide range of new business, orchestrated global client relationships and developed innovative media strategies. The previous year’s winner was Omnicom’s OMD,” says the article featuring MindShare.
The award for MindShare caps an outstanding year in terms of recognition from various titles including Media magazine (Media Agency of the Year Asia Pacific), Ad Week (US) and Campaign and Marketing (UK) among the others. The awards lists also includes EMVIE Awards from India.
As per the coverage in Advertising Age, the gross wins for MindShare in 2003 stood at $1.54 billion while the gross losses were evaluated to be $316 million. The net win for the entire year was $1.22 billion. Three account gains from Asia – Motorola and President Foods from China, and Unilever Thailand are among the major wins while the major losses from Asia were Unilever Japan (planning only), and Siemens China and Singapore.
“A surprising one-quarter of new billings came from China, where MindShare has a phenomenal track record and leadership position in the world’s fastest-growing media market. Another source of growth is a steadily increasing share of Unilever’s business around the world. MindShare is the winner of 15 of Unilever’s last 17 country reviews,” says the article in Ad Age.
On the importance of China, Mark Patterson, MindShare’s Hong Kong-based CEO, North Asia, has been quoted as saying, “China is one of our top three or four markets around the world in its contribution to the business.”
“Our view is that the overall balance of worldwide activity is shifting toward China, India and other developing markets. (China’s ad market) will double in five years in terms of media billings, as well as media sophistication and availability of different channels,” said MindShare CEO Dominic Proctor.
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.
