<ul><li>Walmart had acquired <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> for a whopping $16 billion, giving exits to both founders Sachin and Binny Bansal.</li><li><keyword id="225032" type="General" weightage="20" keywordseo="sachin-bansal" source="Orion">Sachin Bansal</keyword> went on to found his financial products and services company Navi Technologies, which is now looking to go public.</li><li>Yet Sachin Bansal is still dealing with eight lawsuits related to his tenure at the ecommerce titan Flipkart.</li></ul>It has almost been four years since Sachin Bansal formally gave up all leadership responsibilities of Flipkart, yet he is still dealing with eight lawsuits related to his tenure at the ecommerce titan. The <a href="https://www.businessinsider.in/stock-market/news/flipkart-cofounder-sachin-bansals-latest-venture-navi-files-draft-papers-for-3350-crore-ipo/articleshow/90172988.cms">draft red herring prospectus (DRHP) of Navi Technologies</a>, Bansal’s latest entrepreneurial venture, revealed that there are currently thirteen lawsuits and litigations filed by or against the 40-year-old. While some of these matters are related to Bansal’s personal life, others are all around his stint at Flipkart. The <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">latest one of this is by Enforcement Directorate</a> (ED), where the state-run financial investigation agency issued a show cause notice against <keyword id="2119269" type="General" weightage="20" keywordseo="flipkart-founders" source="Orion">Flipkart founders</keyword> Sachin and Binny Bansal in July 2021. The agency asked both the founders why they shouldn't face a $1.35 billion penalty over alleged violation of Foreign Exchange Management Act (FEMA) between 2009 and 2015. The notice was also sent to investors Accel, Tiger Global, Accel nominee director Subrata Mitra, and Tiger Global nominee director Lee Fixel, who had invested in Flipkart before it was acquired by Walmart in 2018. In response, Sachin Bansal filed a <a href="https://www.businessinsider.in/business/news/flipkarts-sachin-bansal-moves-madras-high-court-challenging-ed-notice/articleshow/85903371.cms">writ petition before Madras High Court </a>in August to challenge the show cause notice. The matter is currently pending before court. However, ED has not taken any steps in the matter so far. “...If any adverse order is passed against the Promoter [in this matter], such outcome may have an adverse impact on the reputation of our Company and may also affect the business prospects of our Company [Navi],” the DRHP noted. There are six matters where petitions have been filed against Flipkart between 2015 to 2021, where Bansal has been made a party “due to his past associations with Flipkart”, the DRHP read. “Our Promoter has not received any notice or summons nor has any access currently to any information pertaining to these matters,” it further added. Flipkart has also filed a case in Madhya Pradesh High Court against an individual. Bansal is mentioned as a petitioner. All these matters are currently pending in court. US retail giant Walmart had acquired Flipkart for a whopping $16 billion, in exchange for 77% stake in the ecommerce giant, in May 2018. Sachin Bansal had exited the company soon after the acquisition, whereas Binny Bansal still holds around 2.4% in the company. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paytms-shares-hit-an-all-time-low-plunging-below-the-700-mark-after-rbi-pulls-up-its-payments-bank/articleshow/90193957.cms" data-type="tilCustomLink">Paytm’s shares hit an all-time low plunging below the ₹700-mark after RBI pulls up its payments bank</a> <a href="https://www.businessinsider.in/business/startups/news/interview-you-will-be-able-to-own-bajaj-made-yulu-bikes-by-next-year/articleshow/90172838.cms" data-type="tilCustomLink">INTERVIEW: You will be able to own Bajaj-made Yulu bikes by next year</a> <a href="https://www.businessinsider.in/business/corporates/news/ebixcash-has-four-businesses-but-only-one-of-them-is-pulling-in-big-money-for-the-company/articleshow/90190010.cms" data-type="tilCustomLink">EbixCash has four businesses but only one of them is pulling in big money for the company</a>

Four years later, Sachin Bansal is still battling eight lawsuits from his Flipkart days

<ul><li><keyword id="3820" type="General" weightage="100" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> has stepped down as the <keyword id="14312113" type="General" weightage="20" keywordseo="director-of-reliance-jio" source="Orion">director of Reliance Jio</keyword>, effective June 27.</li><li>His son <keyword id="6361416" type="General" weightage="80" keywordseo="akash-ambani" source="Orion">Akash Ambani</keyword> has been appointed as the chairman of the board.</li><li>The timing of the move – ahead of the 5G spectrum auctions – suggests that the Mukesh Ambani clan is paving the way for the much-awaited Jio IPO later.</li></ul>Mukesh Ambani has resigned as the director of <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> effective June 27, and appointed his eldest son Akash Ambani as the chairman of the board. The elevation of the Brown university-graduate Akash has been speculated for a long time. He has been a part of multiple announcements associated with the company like the launch of operations in 2016 and the JioPhone later. The 30-year-old is also known to have played a pivotal role in the important deal between the telco and tech major Facebook – wherein the latter <a href="https://www.businessinsider.in/business/news/mukesh-ambani-gave-google-and-facebook-a-discount-on-reliance-jio-stake-heres-why/articleshow/77032126.cms">acquired a 9.99% stake in the company</a> with an investment of nearly ₹44,000 crore. <cmsannotation type="cmsannotation" annotationid="A successful succession plan in the works" comment="subhead" text="A successful succession plan in the works">A successful succession plan in the works</cmsannotation> This move also brings to the fore, Mukesh Ambani’s carefully curated succession planning that divides his vast empire between his children. His daughter Isha Ambani and the twin of Akash, has been associated with yet another business that Mukesh Ambani built almost from the ground up – retail. The Stanford-educated Isha has been a director of Reliance Retail since 2014 and has been the brains behind signing many brand partnerships and also helped launch its lifestyle portal, Ajio. Both Isha and Akash have been directors of both retail and Jio businesses, but today’s move could be interpreted as an unofficial division. A succession plan that can avoid a spat like the one he was drawn into with his brother, Anil Ambani. Both Mukesh and Anil used to jointly work at the erstwhile Reliance Industries until his father Dhirubhai Ambani passed away without leaving a will. The demerger of Reliance and the court cases went on years with fights over assets, defamation cases, public maligning and more. Mukesh Ambani’s youngest son Anant Ambani is yet to make an official entry into the business though he is known to be a director in <a href="https://economictimes.indiatimes.com/industry/renewables/anant-ambani-to-join-as-board-member-on-rils-2-new-solar-companies/articleshow/84133708.cms">the solar businesses of </a>Reliance. <div type="Article" hostid="261" msid="92273669" title="7.5 million Indians shut off second SIMs as Airtel, Jio clean house ahead of 5G auctions" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="At the juxtaposition of 5G and 500 million" comment="subhead" text="At the juxtaposition of 5G and 500 million">At the juxtaposition of 5G and 500 million</cmsannotation> Telecom has always been Mukesh Ambani’s pet project. Reliance Infocomm, which later went into his brother’s kitty after the demerger, was always known to be close to his heart. This time however he is willingly giving away the business he re-built, and has turned into one of the most formidable players in a largely truncated telecom market. The elevation of his son as the chairman of Reliance Jio – one of the many crown jewels of RIL – shows that Ambani Sr. is ready to pass on the baton. Akash will be heading Jio at a critical juncture where the telecom sector is all set to upgrade to the next level – with 5G spectrum auctions on the horizon. While his father built the telecom business along with its brand, after 5G, he will have to pivot the business yet again – as <a href="https://www.businessinsider.in/business/telecom/news/5g-in-india-does-the-aam-aadmi-even-need-it/articleshow/92382529.cms">5G speeds are geared towards enterprises rather than consumers</a>. Also, Akash will have to help Jio itself reach its 500 million subscribers target, which has been long pending. Then again, there is yet another target – the initial public offering of the telecom business — an acid test that every young Ambani has to pass with flying colours. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/paytm-is-on-the-cusp-of-a-cup-and-holder-breakout-explaining-the-rally/articleshow/92517971.cms">Paytm is on the cusp of a ‘cup and holder breakout’ — explaining the rally</a> <a href="https://www.businessinsider.in/business/telecom/news/5g-in-india-does-the-aam-aadmi-even-need-it/articleshow/92382529.cms">5G in India – does the aam aadmi even need it?</a> <a href="https://www.businessinsider.in/business/telecom/news/interview-the-big-picture-on-5g-big-tech-telco-war-with-coais-dr-sp-kochhar/articleshow/92356710.cms">INTERVIEW: The big picture on 5G, Big Tech-telco war with COAI’s Dr SP Kochhar</a>

Akash Ambani to head Reliance Jio - that’s just phase I of Mukesh Ambani’s succession plan

Markets regulator <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">Sebi</keyword> on Wednesday ordered defreezing of bank accounts as well as share and <keyword id="3819958" type="General" weightage="20" keywordseo="mutual-fund-holdings" source="Orion">mutual fund holdings</keyword> of <keyword id="128581" type="General" weightage="20" keywordseo="rana-kapoor" source="Orion">Rana Kapoor</keyword>, former MD and CEO of <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">Yes Bank</keyword>. Kapoor is currently in judicial custody after being arrested in March 2020 in the alleged Yes Bank fraud case. The regulator, in March, had attached bank accounts, share and mutual fund holdings of Kapoor to recover dues of over Rs 1 crore. The decision was taken after Kapoor failed to pay the fine imposed on him. Sebi, in September 2020, had levied a fine of Rs 1 crore on Kapoor for not making disclosures regarding a transaction of Morgan Credit, which was an unlisted promoter entity of Yes Bank. By not disclosing about the transaction to Yes Bank's board of directors, Kapoor created an opaque layer between him and stakeholders and violated the provision of the LODR (Listing Obligations and Dislcosure Requirements) Regulation, Sebi had said in the order. The release order came after Supreme Court, on August 2, stayed the Securities Appellate Tribunal (SAT) order which had upheld a penalty of Rs 1 crore on Kapoor. The stay was subject to payment of Rs 50 lakh by Kapoor. In compliance of Supreme Court's interim order, he has deposited the amount, the regulator noted. Accordingly, Sebi on Wednesday asked all banks in the country and depositories -- NSDL and CDSL-- "to release the bank accounts /locker, demat accounts and mutual fund folios of defaulter (Kapoor) attached if any pursuant to... the notice of attachment". In February, the Securities and Exchange Board of India (Sebi) issued a demand notice to Kapoor, although he did not pay any dues. The pending dues, totalling Rs 1.04 crore, included an initial fine of Rs 1 crore and an interest of Rs 4.56 lakh and a recovery cost of Rs 1,000. SEE ALSO <a href="https://www.businessinsider.in/science/health/news/cadila-healthcare-to-launch-zycov-d-vaccine-for-12-year-old-and-above/articleshow/85564761.cms">Cadila Healthcare’s ZyCoV-D — This is what makes it different from other COVID-19 vaccines</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-delhi-court-asks-local-police-to-conclude-investigation-on-allegations-raised-by-former-one97-communications/articleshow/85564575.cms">Paytm IPO: Delhi court asks local police to conclude its investigation in three weeks</a>

Former Yes Bank MD Rana Kapoor gets a breather as SEBI orders defreezing of his bank accounts and mutual funds

A default permissions settings in <keyword id="3159217" type="General" weightage="20" keywordseo="microsoft-power-apps" source="Orion">Microsoft Power Apps</keyword> might have exposed data of <keyword id="11942257" type="General" weightage="20" keywordseo="38-million-users" source="Orion">38 million users</keyword> online, cyber security researchers reported. According to security research network <keyword id="4670261" type="General" weightage="20" keywordseo="upguard" source="Orion">UpGuard</keyword>, the types of data included personal information used for <keyword id="9148427" type="General" weightage="20" keywordseo="covid-19-contact-tracing" source="Orion">Covid-19 contact tracing</keyword>, vaccination appointments, social security numbers for job applicants, employee IDs, and millions of names and email addresses. UpGuard notified 47 entities of exposures involving personal information, including governmental bodies like Indiana, Maryland, and New York City, and private companies like <keyword id="88011" type="General" weightage="20" keywordseo="american-airlines" source="Orion">American Airlines</keyword>, J.B. Hunt, and <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword>, for a total of 38 million records across all portals. "The number of accounts exposing sensitive information, however, indicates that the risk of this feature -- the likelihood and impact of its misconfiguration -- has not been adequately appreciated," the UpGuard team said in a blog post. Microsoft Power Apps are a product for making "low code", cloud-hosted business intelligence apps. Power Apps portals are a way to create a public website to "give both internal and external users secure access to your data." Users can create websites in the Power Apps UI with application capabilities like user authentication, forms for users to enter data, data transformation logic, storage of structured data, and APIs to retrieve that data by other applications. "Our conversations with the entities we notified suggested the same conclusion: multiple governmental bodies reported performing security reviews of their apps without identifying this issue, presumably because it has never been adequately publicised as a data security concern before," they added. There is, however, no evidence that the data has been exploited. On May 24, an UpGuard analyst first discovered that the OData API for a Power Apps portal had anonymously accessible list data including personally identifiable information. The owner of that application was notified and the data secured. "That case led to the question of whether there were other portals with the same situation -- the combination of configurations allowing lists to be accessed anonymously via OData feed APIs, and sensitive data collected and stored by the apps," the team noted. As reported by Wired, Microsoft has now changed the default permissions settings responsible for the exposure. SEE ALSO <a href="https://www.businessinsider.in/science/health/news/cadila-healthcare-to-launch-zycov-d-vaccine-for-12-year-old-and-above/articleshow/85564761.cms">Cadila Healthcare’s ZyCoV-D — This is what makes it different from other COVID-19 vaccines</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-delhi-court-asks-local-police-to-conclude-investigation-on-allegations-raised-by-former-one97-communications/articleshow/85564575.cms">Paytm IPO: Delhi court asks local police to conclude its investigation in three weeks</a>

Default settings in Microsoft tool exposes 38 million users’ personal data, says report

<ul><li>India’s third biggest telco has converted its dues to the government into a stake in the company.</li><li>As a result of this announcement, the shareholding of promoters, Vodafone Plc., and Aditya Birla Group will come down to 46% from 72% earlier.</li><li>Government will now have a 35.8% stake in the company, worth ₹16,000 crore, making it the largest shareholder. </li><li><keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> had earlier opted for the four-year moratorium on spectrum and AGR dues.</li></ul>Vodafone Idea announced Tuesday that it will accept the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">Indian government’s proposal</a> to convert its spectrum and adjusted gross revenue (AGR) dues to equity, making the government the largest shareholder of the company. And, the implied cost of this conversion is ₹10 a share, a 32% discount on Monday’s (January 10) closing price. With this, the Indian government will now hold a 35.8% stake in the company. The promoters – Vodafone Plc., and Aditya Birla Group – will hold 28.5% and 17.5% stake, respectively. This is down from the current shareholding of 44.39% and 27.66%, respectively. The reason that the shares have been allotted to the government at ₹10 is that the average share price on the date (August 14, 2021) was below par value (₹10), the company noted in its filing. <div type="image" title="Vodafone Idea 15_09_21 to 11_01_22." msid="88824135" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone Idea&amp;#39;s share price since the telecom relief package was announced&amp;lt;/p&amp;gt;"></div> “The shares may be held through the statutory undertaking of the Unit Trust of India (SUUTI) on behalf of the Government of India or by any trustee-type or other suitable arrangement,” the company said in its statement to the exchanges. SUUTI is a government investment arm that owns significant stakes in publicly listed companies like HDFC Bank, ICICI Bank, State Bank of India, among others. <div type="image" title="Vodafone Idea shareholding January 2022." msid="88824143" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone Idea&amp;#39;s new shareholding pattern&amp;lt;/p&amp;gt;"></div> According to an exchange filing by the company, the net present value of the interest owed by Vodafone Idea to the government currently stands at ₹16,000 crore. <div type="Article" hostid="261" msid="86221662" title="Government picking up a stake in Vodafone Idea ‘might be a remedy worse than the disease’, say experts" mstype="2" mssubtype="0"></div> The Department of Telecommunications had in October 2021 presented Vodafone Idea and Airtel with various options to obtain from the telecom relief package announced in September. This included deferment of spectrum and AGR dues for four years, and converting interest on the said amount to equity shares. Vodafone Idea opted for the moratorium with its rival Airtel <a href="https://www.businessinsider.in/business/telecom/news/airtel-opts-for-agr-dues-moratorium-becomes-the-second-telco-to-do-so/articleshow/87254202.cms">following in the footsteps later</a>. <cmsannotation type="cmsannotation" annotationid="What is AGR?" comment="subhead" text="What is AGR?">What is AGR?</cmsannotation> In 1999, the government and telecom operators shifted to a revenue-sharing fee model that requires them to share a part of their adjusted gross revenue (AGR) with the government as annual licence fee and spectrum usage charges. AGR is defined in the licence agreements entered between the Department of Telecommunications (DoT) and the telecom operators. In a notification issued in October, the DoT redefined the concept of AGR, removing all non-telecom revenue from its scope. This would then be used to compute the licence and spectrum usage charges (SUC) that telcos would have to pay to the government. Here’s how much Vodafone Idea and Airtel owe the government in the form of AGR dues: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total AGR demand (in crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">AGR dues paid (in crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Balance AGR dues (in crore) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Vodafone Idea </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹58,254 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹7,854 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹50,339 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹43,980 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹18,004 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹25,976 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: AGR dues case in the Supreme Court SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/government-picking-up-a-stake-in-vodafone-idea-might-be-a-remedy-worse-than-the-disease-say-experts/articleshow/86221662.cms">Government picking up a stake in Vodafone Idea ‘might be a remedy worse than the disease’, say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-paytm-fortis-healthcare-delta-corp-and-other-hot-stocks-on-january-11/slidelist/88823144.cms">Vodafone Idea, Paytm, Fortis Healthcare, Delta Corp and other hot stocks on January 11</a>

The government is now the biggest shareholder in Vodafone Idea

<ul><li>London’s transport regulator has revoked the license of <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> over ‘safety concerns’ and told the Indian ride-hailing app “that it was not fit and proper to hold a private hire operator's license”.</li><li>Ola now has 21 days to appeal the decision of the authorities.</li><li>Ola has said it will appeal the decision and will continue to function in London.</li><li>Meanwhile, its rival <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> had recently won a historic court case to get back its license. </li></ul>When Ola rode into London in 2019, it did so when Uber’s license had just been revoked by the Transport for London (TfL) authorities. Cut to 2020, just as Ola was getting ready to celebrate its first anniversary in London, its license has been revoked, whereas Uber recently <a href="https://www.businessinsider.in/thelife/news/uber-secures-its-london-future-after-winning-a-court-battle-with-the-citys-transport-body/articleshow/78362656.cms">won a historic court </a>case to get back its license. According to a <a href="https://news.sky.com/story/tfl-bans-uber-rival-ola-over-public-safety-failings-12090283">SkyNews report</a>, TfL has banned Ola over ‘safety concerns,’ and the Indian ride-hailing app was told: “that it was not fit and proper to hold a private hire operator's licence”. The report also said that Ola’s failings included several breaches, resulting in unlicensed drivers and vehicles taking over 1,000 trips on the platform. Ola now has 21 days to appeal against the decision of the authorities. “At Ola, our core principle is to work closely, collaboratively and transparently with regulators such as TfL. We have been working with TfL during the review period and have sought to provide assurances and address the issues raised in an open and transparent manner. Ola will take the opportunity to appeal this decision and in doing so, our riders and drivers can rest assured that we will continue to operate as normal, providing safe and reliable mobility for London,” said Marc Rozendal, Managing Director, Ola UK. This development comes as Ola was also <a href="https://thetechportal.com/2020/09/11/ola-faces-trouble-in-netherlands-as-drivers-file-suit-over-data-access-rights/">reportedly</a> facing issues in London after two drivers filed a lawsuit against the ride-hailing giant. They had filed a legal complaint against the ride-hailing giant for allegedly not adhering to GDPR (General Data Protection Regulation) rules – Europe’s stringent data protection act. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/vijay-shekhar-sharma-fires-the-shots-paytm-launches-its-own-android-mini-app-store-to-take-on-google/articleshow/78484994.cms">Vijay Shekhar Sharma fires the shots – Paytm launches its own Android mini-app store to take on Google</a>

Ola's license revoked by London transport authorities over safety concerns – Indian ride-hailing app says it will appeal the decision

<ul><li><keyword id="4009819" type="PERSON" weightage="20" keywordseo="Amazon-Pay">Amazon Pay</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> <keyword id="418872" type="PERSON" weightage="20" keywordseo="digital-wallet">digital wallet</keyword> in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, is rolling out user verification (KYC) for its customers.</li><li>Reportedly submitting biometrics using <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> credentials is a faster process for verification than other physical documents. </li><li>But concerns related to Aadhaar aren’t about its convenience, but about its security.</li></ul>Amazon Pay is the next digital wallet to roll out physical customer verification — but there’s a catch. If you use your <keyword id="6356006" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-card">Aadhaar card</keyword> for verification, the process is a lot quicker than if you other methods of verification — passport, drivers license, voter ID, or bank statements. It’s not really Amazon’s fault because the biometric verification through Aadhar is simple matter of verifying your fingerprint through a fingerprint reader. But, with other physical documents, the company needs people on the ground to verify the authenticity of the documents. Simply put, the verification through Aadhaar is a lot cheaper for Amazon as compared to using other documents for physical verification. Amazon Pay and other digital wallets have to enforce user verification in line with the Reserve Bank of India’s new policy on data localisation. Not an Amazon-specific problem India’s central bank, the Reserve Bank of India, rolled out its data localisation policy rendering 95% of mobile wallets in the country vulnerable to being shut down. The directive of the policy makes it mandatory for all digital wallets to have biometrics or physical customer verification in place. Even PayTM nudged its users into adopting KYC in order to continue using their wallets. If your PayTM account isn’t verified, you can still receive payments from other users and make payments at retail outlets using the QR-code but you can’t send out money to other users directly. Other digital wallets like MobiKwik have shifted to diversifying themselves because they haven’t been able to push their customers towards KYC norms with RBI’s February deadline coming up. The case with Aadhaar India’s top court has already ruled that private companies can’t make it ‘mandatory’ for Aadhaar to be the only method of user verification. But that doesn’t negate it as an option. The issue that people are facing with Aadhaar isn’t whether or not it’s convenient, but whether or not it’s safe. The series of data breaches associated with the Aadhaar system didn’t happen through actual government database, but through third-party organisations that were using Aadhaar information as user identification. A <a href="https://timesofindia.indiatimes.com/india/80-people-concerned-about-aadhaar-data-security-study/articleshow/64382747.cms">study </a>by Velocity MR estimates that as many as 80% of respondents in India are concerned about data security when it comes to giving out their Aadhaar card information anywhere. It’s not just about identity theft but information being leaked that leads to customers being spammed over text and email — or even phished. This is probably why Amazon is looking to roll out its own Unified Payments Interface (<keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword>) because, in that case, KYC isn’t mandatory for setting up an account. The verification done by the respective banks is enough. See also: <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a> <a href="https://www.businessinsider.in/indian-government-portal-leaks-8-9mn-aadhaar-details-again/articleshow/63924186.cms">Indian government portal leaks 8.9mn Aadhaar details, again</a> <a href="https://www.businessinsider.in/supreme-court-clarifies-that-aadhar-isnt-mandatory-for-a-new-sim-connection/articleshow/63928188.cms">Supreme Court clarifies that Aadhar isn’t mandatory for a new SIM connection</a>

This is why Amazon wants your Aadhaar number

<ul><li>Several <keyword id="860150" type="PERSON" weightage="20" keywordseo="YouTubers" source="Orion">YouTubers</keyword> have taken to Twitter to highlight the series of strikes they have faced over the last month.</li><li>People aware of the matter suggest that there were always instances of extortion on <keyword id="10879" type="General" weightage="20" keywordseo="YouTube" source="Orion">YouTube</keyword>, but this time it is more organised.</li><li>YouTube follows a strict copyright infringement policy and suspends the account after three proven strikes.</li></ul>YouTube is trying to reduce the number of copyright violations on its platform, but the folks are trying to use the stricter norms to harass original content creators to the point that it has turned into a tool of extortion. Sachin Saxena was shocked. He was bound to be. In June this year, YouTube sent him a copyright violation notice (known as strikes on the platform) on one of the videos he made from scratch — from scripting to shooting and even editing. It has been four years since Saxena has been creating explainers related to technology and new-age businesses on YouTube. The video platform has really enabled him to create a stable source of income, while doing what he loves. Like anyone else would, he thought it would have been a mere misunderstanding and decided to approach the claimant in order to clear the air. But things took a turn for the worst. No, it was no misunderstanding. It was one of those blackmailing cases he had infamously heard about from his peers. US-based search giant Google’s video streaming platform YouTube has been very particular about copyright violations and has proactively taken steps to remove any such content that infringes on the rights of content creators. However, the approach has come to bite several small-time YouTubers on the back, as it has turned out to be a convenient tool for extortion. The person, Darshan Deewana Official aka Munna Singh or whoever you want them to be, sought $200 in exchange for removing the strike against Saxena. The alleged extortionist also threatened to issue more copyright strikes against the Uttar Pradesh-based <keyword id="2803176" type="PERSON" weightage="20" keywordseo="YouTuber" source="Orion">YouTuber</keyword> in case he fails to make the said payment. But Saxena had done nothing wrong, apparently. So why should he pay to prove ownership over his own content? He decided to follow all due diligence and filed a counter notification (counter strike) claiming his ownership. But it wasn’t going to be an easy path. The alleged extortionist did exactly as he had said and issued four more strikes against Saxena over the next couple of days. These four strikes were issued over 11 videos, meaning there were a total of 11 copyright infringement cases concentrated in 4 strikes. Once again, Sachin filed a counter strike case against all these violations using Google’s pre-set form, but his request was rejected the first time. <div type="image" title="Graphic 1: The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84495019" hostid="261"></div> He decided to give it another shot. He reached out to YouTube directly over email. He shared all the proof of ownership of the content, which he earlier couldn’t as YouTube’s <keyword id="11141113" type="General" weightage="20" keywordseo="copyright-strike" source="Orion">copyright strike</keyword> or counter notification application mechanism/form do not allow any attachments or links apart from the flagged video itself. This time his request was accepted. Upon investigation, Business Insider found out that Sachin wasn’t the only one suffering from such fake copyright strikes. A simple Twitter search gave us a deeper look into the spread of such copyright strikes. While Saxena may have been able to sail past this successfully, many haven’t been able to do so and their accounts have been suspended. <div type="image" title="graphic 2: The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84494586" hostid="261"></div> All these copyright strikes may not be “fake” as claimed in the screenshots above, but it is an awful coincidence that so many small-time YouTubers, who had enough subscribers to be earning through the platform, are receiving such request from different accounts. But it is also true that YouTube does not require any documentation to file a strike, in this case a series of strikes, against anyone. So, anyone, without even a YouTube account, can flag your content as stolen. This is not the first time YouTube’s copyright strike mechanism has been used to extort money out of content creators. This policy has been exploited both in India and abroad. However, this time it is much more organised. Apart from the above-mentioned email ID, there have also been other IDs involved in this giving this ‘series of copyright strikes’. It was certainly not the first time that Darshan Deewana had reached out to young YouTubers either. We also came across two separate instances, where a series of copyright strikes was issued by this person and a ransom was demanded. <div type="image" title="Graphic 3: The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84487017" hostid="261"></div> One of the YouTubers has also taken a legal route against this account holder. <div type="image" title="Graphic 4: The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84487026" hostid="261"></div> While Saxena managed to get all these copyright strikes removed against him without paying, many have not been able to do so. One of the YouTubers, who paid this Darshan Deewana, said that his name would be removed from a list of YouTubers the extortionist had and no one would bother them again. “I decided to pay them so they don’t bother me again. I don’t want to go through this again,” the YouTuber added. Upon further investigation, Business Insider was able to create a chain of these “fake” copyright claims issued by Darshan Deewana end-to-end. The copyright strike would be issued by a “Munna Singh” registered with an email address of “Darshan Deewana Official”. Darshan would ask the YouTubers to transfer the ransom on a PhonePe account registered with another number. The number was listed as WhatsApp Business, with another email starting with “nirash”. <div type="image" title="Graphic 5: The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84494745" hostid="261"></div> Business Insider reached out to Darshan Deewana and Nirash, but hasn’t received a response till publishing time. Why will YouTubers not reach out to YouTube directly? YouTube is not unaware of such instances and has set up a proper procedure in place to counter any copyright infringement claims filed by someone. However, it may be difficult for some to remove such strikes. <div type="Youtube" id="Bv4CvzyAkV0" title="Copyright in YouTube Studio: Addressing Copyright Claims with New Tools, Filters and More" thumbUrl="https://i.ytimg.com/vi/Bv4CvzyAkV0/mqdefault.jpg"></div> There are two ways to file these counter-notification. First, file the counter copyright notification directly through a web form. Secondly, email YouTube at &lt;<a href="mailto:copyright@youtube.com">copyright@youtube.com</a>&gt;. Many YouTubers have highlighted that their counter notifications were rejected in the first attempt. Flagging the issues over email has a higher chance of approval. "YouTube's copyright removal process complies with the applicable law. We strive to be fair to our users and protect their freedom of expression while also respecting the legal rights of copyright owners. Based on a copyright claim raised by a copyright owner or an agent authorised to act on their behalf, users have the option to file a <a href="https://support.google.com/youtube/answer/2807684?hl=en">counter-notification</a> when they believe their content has been removed as a result of a mistake or misidentification of the content, including fair use. The process further requires the claimant to provide evidence that they have initiated a court action within a specified timeline. In the event of any misuse of our process, we take it seriously and overturn removal decisions where we find evidence that a removal request was submitted without considering exceptions to copyright law such as fair use, fair dealing or other exceptions," the YouTube’s spokesperson told Business Insider over an email. <div type="image" title="The great Indian YouTube extortion — 101 on how criminals are making money off YouTubers" msid="84494853" hostid="261"></div> Another key thing to note here is that YouTube, in its policies, mentions that they don’t mediate copyright claims. It is left to the parties involved to decide. It is not up to YouTube who “owns the rights” to content. Despite the availability of an elaborate mechanism, few YouTubers do not want to risk getting their accounts suspended. If by any chance YouTube finds the claimant’s claims to be accurate — true or not —, these YouTubers will have to either settle in court or out of it. That is going to cost them more money and time. But why is this issue important? With the growth of the digital economy, India has become one of the most prominent markets not only in terms of customer base, but also in terms of creators. Only 16 Indian content creators had more than 1 million subscribers in 2014, but the community has touched over 1,200 such creators in 2019. According to a digital marketing blog Digital Uncovered <a href="https://digitaluncovered.com/rise-indian-content-creators/">report</a>, about 2,500 Indian creators on YouTube cross 1,000 subscriber milestones every day. Overall, YouTube has at least <a href="https://www.omnicoreagency.com/youtube-statistics/">225 million</a> active users in India — that's more than 7 times the entire population of Canada. The rise of such extortion cases can not only have a major impact on the livelihood of YouTubers, but also on YouTube itself. The instances highlighted in this report are largely from Tier 2 regions of India, but are not limited there. Several reports in the past have highlighted such incidents in the US as well, but the cases continue to exist despite this. For people like Saxena, it is a question of livelihood. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a> <a href="https://www.businessinsider.in/entertainment/news/the-political-flip-flops-of-superstar-rajinikanth-over-the-last-three-decades/articleshow/84463947.cms">The political flip-flops of Superstar Rajinikanth over the last three decades</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-is-worried-about-losing-its-it-talent-to-indias-unicorns/articleshow/84411946.cms">Infosys has a new headache — India’s unicorn boom</a>

Here is how Indian YouTubers are becoming victims to extortion

<a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> founder-CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma&amp;sortorder=effectivedate">Vijay Shekhar Sharma</a> tweeted today expressing his exasperation about the Madhya Pradesh government’s decision to impose 6% tax on online shopping. The move is geared to increase the state's revenue. 
 Flipkart’s former CPO and <keyword id="6357722" type="COMPANY" weightage="60" keywordseo="silicon-valley">Silicon Valley</keyword> veteran <a href="http://www.businessinsider.in/searchresult.cms?query=Punit+Soni&amp;sortorder=effectivedate">Punit Soni</a> replied to the tweet saying, “<a href="https://mobile.twitter.com/vijayshekhar">@vijayshekhar</a> Ban Uber, license Ola, tax ecommerce above and beyond. Entrepreneurs in India succeed inspite these people not becoz of them.” 
 
Several tech startups have faced penalties and even law suits by local governments who are grappling with the prospect of new regulations to keep up with the times. Local tax laws have been plaguing <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> companies for a while, biting into their margins and affecting their supply chain networks. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Uber&amp;sortorder=effectivedate">Uber</a> has recently been seeking a review of new rules in Bangalore covering the ride-hailing industry, adding a new chapter to its global battle with regulators. It’s home-grown rival <a href="http://www.businessinsider.in/searchresult.cms?query=Ola&amp;sortorder=effectivedate">Ola</a> has faced vehicle impounding and court cases as well.

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