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<keyword id="7160701" type="UNKNOWN" weightage="20" keywordseo="the-year-2018">The year 2018</keyword> saw the <keyword id="75952" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court-of-India">Supreme Court of India</keyword> pass some pivotal judgements that have borne in favour of equality. Under the umbrella of Justice Dipak Misra, the judgements have sparked debate, joy and also anger. The Supreme Court verdict on decriminalising homosexuality allowing the entry of women in the Sabarimala temple in the year 2018, while appreciated, were also judgements that were widely debated. The controversy surrounding the Aadhaar Act was also put to rest with Sections 33(2), 47 and 57 being struck down. The primary concern of citizens was abated with private entities no longer being allowed to demand Aadhaar data and the national security exception being revoked. Here are the some of the major verdicts passed down by the <keyword id="7160700" type="UNKNOWN" weightage="20" keywordseo="supreme-court-in-the-year-2018">Supreme Court in the year 2018</keyword>:

10 landmark judgements India’s Supreme Court passed in 2018

New Delhi, The <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> on Thursday struck down the electoral bond scheme, saying it violates the right to information and the freedom of speech and expression under the Constitution. In a landmark judgement that will have wide ramifications, it ordered the <keyword id="19934368" type="General" weightage="20" keywordseo="state-bank-of-india" source="keywords">State Bank of India</keyword> to disclose to the <keyword id="19895782" type="General" weightage="20" keywordseo="election-commission" source="keywords">Election Commission</keyword> the names of the contributors to the six-year-old scheme. A five-judge Constitution bench headed by Chief Justice <keyword id="19936357" type="General" weightage="20" keywordseo="d-y-chandrachud" source="keywords">D Y Chandrachud</keyword> delivered two separate and unanimous verdicts on the pleas challenging the scheme, delivering a major blow to the central government. Pronouncing the verdict, the CJI said the scheme is violative of freedom of speech and expression under Article 19(1)(a) of Constitution. The bench said the fundamental right to privacy also includes citizens' right to political privacy and affiliation. It also held as invalid the amendments made in various laws, including the <keyword id="20592932" type="General" weightage="20" keywordseo="representation-of-peoples-act" source="keywords">Representation of Peoples Act</keyword> and the Income Tax laws. It directed that the issuing bank shall stop issuance of electoral bonds and the State Bank of India shall submit details of electoral bonds purchased since April 12, 2019 till date to the Election Commission. The top court had on November 2 last year reserved its verdict in the matter. The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. According to the provisions of the scheme, electoral bonds may be purchased by any citizen of India or entity incorporated or established in the country. An individual can buy electoral bonds, either singly or jointly with other individuals without disclosing the identity. Critics have said this eliminates transparency in electoral funding and gives an edge to the ruling parties.

SC strikes down electoral bond scheme, terms it unconstitutional

<ul><li>The Supreme Court has ordered the Uttar Pradesh government to extend ₹250,000 as compensation money to <keyword id="490253" type="PERSON" weightage="20" keywordseo="Unnao-rape-case">Unnao rape case</keyword> survivor. </li><li>It has asked <keyword id="76600" type="ORGANIZATION" weightage="20" keywordseo="Central-Reserve-Police-Force">Central Reserve Police Force</keyword> (CRPF) Raebareli unit to provide protection. </li><li>The justice bench headed by CJI <keyword id="245445" type="PERSON" weightage="20" keywordseo="Ranjan-Gogoi">Ranjan Gogoi</keyword> also directed the transfer of of the five Unnao cases to Delhi.</li></ul>The Supreme Court directed the Uttar Pradesh government to provide ₹250,000 as interim compensation to Unnao rape case survivor. "We will be failing in duty if we don't grant a compensation," the court <a href="https://timesofindia.indiatimes.com/india/unnao-rape-case-sc-directs-compensation-to-survivor-fixes-7-day-deadline-for-truck-accident-probe/articleshow/70479013.cms">said</a>. The apex court also directed the state government to ensure security to the girl, and her lawyer. Central Reserve Police Force (CRPF) Raebareli unit was asked to provide protection. The rape survivor, two of her aunts and her lawyer were injured in a road accident on Sunday. The Central Bureau of Investigation, on Wednesday filed a case against BJP MLA Kuldeep Singh Sengar and eight others on murder charges, alleging that the accident was planned, India Today reported. Sengar was accused of rape by the victim, a year back. The King George Medical University hospital said that the condition of the injured rape survivor is critical. Both the survivor and her lawyer are on ventilator. Both the aunts succumbed to injuries. At a hearing on Wednesday, the SC offered the rape survivor’s family to shift her to AIIMS in Delhi for treatment. The bench headed by CJI Ranjan Gogoi also <a href="https://www.indiatoday.in/india/story/supreme-court-unnao-case-hearing-live-updates-1575940-2019-08-01">transferred </a>the all the five Unnao cases — rape of the 19-year-old girl, case on her father under Arms Act, a case on the custodial death of the father, murder case against Kuldeep Sengar, and finally the accident — to Delhi. The Supreme Court asked the bench to conclude all the judicial proceedings within 45 days. In a letter she wrote to the Chief Justice of India (CJI), the girl had mentioned the possibility of a threat. Unfortunately,<a href="https://www.news18.com/news/india/didnt-receive-letter-from-unnao-rape-survivors-kin-says-cji-gogoi-seeks-report-from-sc-registry-on-delay-2252495.html"> the message reached CJI Ranjan Gogoi</a> on Tuesday, two days after she met with an accident. In April 2018, a four-time MLA Kuldeep Singh Sengar was <a href="https://www.indiatoday.in/india/story/unnao-rape-case-fir-against-victim-kin-for-falsely-claiming-she-is-a-minor-1418061-2018-12-27">accused</a> for raping the minor at his place in Makhi village. He is currently in judicial custody. <div type="image" title="g1" tempid="117753" msid="70483134" hostid="261"></div>

 <div type="image" title="g2" tempid="117757" msid="70483135" hostid="261"></div>

India’s apex court directs UP state government to grant ₹25 lakh as interim compensation to Unnao rape survivor

<ul class="summary-list"><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s central bank confirmed on Monday that <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> and exchanges are not banned.</li><li>A three-year-old circular that barred banks from <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> transactions is no longer valid, the RBI said.</li><li>"The new RBI circular clearly confirms the right to do business with crypto firms," crypto exchange ZebPay's co-CEO said.</li></ul>India's central bank clarified on Monday that an old order forbidding financial institutions from supporting cryptocurrency transactions had been struck down by the country's highest court in 2020, allowing investors to breathe a sigh of relief.<a href="https://rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=12103">In a new note</a>, the regulator said banks should not cite its <a href="https://www.rbi.org.in/scripts/FS_Notification.aspx?Id=11243&amp;fn=2&amp;Mode=0p;Mode=0">2018 circular</a> as a reason to disallow trades in digital currencies as it had been "set aside by the Hon'ble Supreme Court" last year."The circular is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from," the note stated.The latest order, addressed to all commercial and co-operative banks, followed local media reports that some financial firms, including the country's largest banks, had advised investors against dealing in digital currencies."It's amazing to see @RBI clarifying &amp; helping solve uncertainty for crypto in India," Nischal Shetty, founder and CEO of Indian crypto exchange founder WazirX, <a href="https://twitter.com/NischalShetty/status/1399579000624713732">said in a tweet</a>. "There are over 1.5 crore Indians in crypto. This news has brought joy and confidence to everyone in the sector."Read More: <a href="https://www.businessinsider.com/crypto-trader-shares-favorite-strategies-bullish-sectors-bitcoin-ether-defi-2021-5" target="_blank" rel="noopener noreferrer">A senior crypto trader at a $500 million digital asset manager shares his favorite trading strategies to generate 'riskless profits' - and the 3 sectors of the nascent market that he is most bullish on</a>Still, the RBI order directs institutions to continue to perform due diligence processes before providing services. "This is positive news for the entire crypto industry - businesses, stakeholders, and investors," Avinash Shekhar, co-CEO of crypto exchange ZebPay, told Insider. "Investing in crypto has always been 100% legal in India and the new RBI circular clearly confirms the right to do business with crypto firms."He added that the RBI's communication about due diligence is a welcome move that could strengthen the relationship with banking and payment gateway partners, and make crypto investments accessible to more Indian investors.The crypto industry in India still awaits further direction from the government in the form of a <a href="https://www.cnbc.com/2021/03/15/india-plans-cryptocurrency-ban-will-penalize-miners-and-traders.html">new law</a> that reportedly address criminal possession, issuance, and crypto mining.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was little changed on Tuesday, trading 1% higher around $36,196. The digital token is up 25% so far this year.

India's central bank confirms cryptocurrencies aren't banned - and says its 2018 order barring banks from crypto transactions is no longer valid

<ul><li>Nearly 180 professional colleges, including engineering institutes and business schools, have shut down during the academic year 2020-21, the highest number of closure of technical institutions in the last nine years, according to <keyword id="9657430" type="COMPANY" weightage="20" keywordseo="all-india-council-of-technical-eduction">All India Council of Technical Eduction</keyword> (AICTE) data. </li><li>Besides the closure of 179 institutes, at least 134 institutes did not seek approval this year in view of large number of seats lying vacant over the last 5 years thus making it unviable for continuing the institution. </li><li>Also, at least 44 institutes could not get approval or their approvals were withdrawn due to punitive action by the technical education regulator.</li></ul>Nearly 180 professional colleges, including engineering institutes and business schools, have shut down during the academic year 2020-21, the highest number of closure of technical institutions in the last nine years, according to All India Council of Technical Eduction (AICTE) data. Besides the closure of 179 institutes, at least 134 institutes did not seek approval this year in view of large number of seats lying vacant over the last 5 years thus making it unviable for continuing the institution. Also, at least 44 institutes could not get approval or their approvals were withdrawn due to punitive action by the technical education regulator. While 92 technical institutes had to close down in the 2019-20 academic session, the figures were 89 (2018-19), 134 (2017-18), 163 (2016-17), 126 (2015-16) and 77 (2014-15). Progressive closure means institute cannot admit the students for the first year during the academic year, however, the existing students will continue till completion of their course and their degrees are treated as valid. In the academic year 2020-21, a total of 1.09 lakh seats approved by AICTE have been reduced in pharmacy and architecture institutions. "As per recent <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> judgement, for functioning of existing and setting up of new <keyword id="9657431" type="COMPANY" weightage="20" keywordseo="architecture-and-pharmacy">Architecture and Pharmacy</keyword> colleges, approval of only '<keyword id="217401" type="COMPANY" weightage="20" keywordseo="Council-of-Architecture">Council of Architecture</keyword>' and '<keyword id="55171" type="COMPANY" weightage="20" keywordseo="Pharmacy-Council-of-India">Pharmacy Council of India</keyword>' respectively will be mandatory from academic Year 2020-2021," a senior AICTE official said. "As a result, the approval of AICTE has been made non-mandatory.Consequently, many of these colleges have withdrawn their affiliation &amp; approval from AICTE resulting in bulk reduction of seats. Effectively, the seats of pharmacy and architecture have now been taken over by their respective regulatory bodies," he added. According to official statistics, over 69,000 seats in 762 colleges have been reduced due to reduction in intake or closure of a particular course or division. "The approval process for year 2020-2021 was a considerable departure from the previous years on several counts. Due to the imposition and subsequent extensions of lockdown, the approval process was delayed. It was initiated in the month of May and completed in June end. "Moreover, the rigorous scrutiny which was undertaken physically at various regional offices was conducted via an online process. This involved using online video-conferencing for stakeholders to connect, verification of infrastructure and campus facilities virtually and uploading digitally signed documents. Even though new Management and Polytechnic Engineering Institutes have added seats, there has been reduction in AICTE approved Seats," the official said. The AICTE has also granted approval to 164 new institutes for the 2020-21 academic season, adding up to 39,000 seats. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mahindra-and-mahindra-finance-managing-director-gets-candid-about-the-rights-issue/articleshow/77212386.cms">EXCLUSIVE: M&amp;M Financial Managing Director gets candid about the rights issue, the bleak prospects for this year and why there should be no more loan moratorium</a> <a href="https://www.businessinsider.in/stock-market/news/india-stock-brokers-hit-by-sebi-direct-market-access/articleshow/77198064.cms">India's broking industry just got the shock of its life – SEBI may soon allow investors to trade directly on the exchanges</a> <a href="https://www.businessinsider.in/business/startups/news/these-10-indian-colleges-have-produced-indias-most-funded-startup-owners/slidelist/77140792.cms">These 10 Indian colleges have produced India’s most funded startup owners</a>

Nearly 180 professional colleges in India shut down this year

<ul><li>A local court in Japan has ruled the country’s failure to recognise same-sex marriages as ‘unconstitutional’.</li><li>According to a court in Sapporo, the stance is at odds with the constitutionally-guaranteed right to equality.</li><li>In India, the Delhi High Court is hearing a similar case, in which the central government has said that same-sex marriages are not at par with the Indian concept of a ‘family unit’. </li></ul>A Japanese court has ruled the island nation’s stance to not recognise same-sex marriages as ‘unconstitutional’ in a symbolic win for the <keyword id="1218847" type="PERSON" weightage="20" keywordseo="LGBTQ-community">LGBTQ community</keyword>. The country’s constitution asserts that marriage is a union between ‘both sexes’ in Article 14, which means individuals of the same gender cannot get married. However, according to a district court in Sapporo — capital city of the northern Japanese island of Hokkaido — this is at odds with the constitutional right to equality. Japan is not the only Asian country fighting to legalise same-sex marriages. India, too, is facing push back from the government even though homosexuality was officially decrimalised in 2018 — three years ago. <div type="image" title="pride parade 2018_edited" msid="81564711" hostid="261" caption="&amp;lt;p&amp;gt;Members of the LGBTQ community celebrating the Supreme Court ruling decriminalising homosexuality at Marine Drive in Kochi in June 2018&amp;lt;/p&amp;gt;"></div> Japan’s symbolic win While the bench rejected the compensation claim of the plaintiffs for one million yen (around $9,000) per person for being denied the same rights as heterosexual couple, it ruled that not allowing people of the same gender to get married was ‘unconstitutional’ since the right to equality takes precedence. Even though this does not mean that same-sex marriage is legal on the island nation, the judgement is being lauded as a symbolic victory within the local LGBTQ community. “This is one huge step forward in Japan. We are moving closer to making our dream come true,” Ai Nakajima, who was one the original plaintiffs in the case, told <a href="https://www.bbc.com/news/world-asia-56425002">BBC.</a> The island nation is considered to be among one of the most developed nations in the world. Yet, it is the only country with the Group of Seven (G7) — which includes France, Germany, the US, the UK, Canada, and Italy — that does not allow same-sex marriage. The fight to legalise same-sex marriage in India is still facing road blocks India only decriminalised homosexuality two years ago. Before the Supreme Court’s ruling, Section 377 left individuals of the LGBTQ community open to harassment, beatings and blackmail. <div type="image" title="pride parade 2020_edited" msid="81564812" hostid="261" caption="&amp;lt;p&amp;gt;LGBTQ community members participating in the Orange City Pride March in Nagpur to create awareness about LGBTQ community among the general people in January 2020&amp;lt;/p&amp;gt;"></div> As recently as last month <a href="https://www.hindustantimes.com/india-news/centre-opposes-petitions-for-same-sex-marriage-101614301498359.html">India’s government</a> told the Delhi High Court, “Family issues are far beyond mere recognition and registration of marriage between persons belonging to the same gender.” The Modi-administration communicated that the ‘Indian family unit’ concept comprises a ‘biological man’ as the husband, a ‘biological woman’ as the wife and the children born out of union between the two. It asserted that Western ideas cannot be imported to the Indian context, citing the Indian constitutional law and jurisprudence. The court has posted the matter for further hearing on April 20. The fight to legalise same-sex marriage is a tough one world over. Out of the 195 countries around the globe, same-sex marriage is only officially legal in 29, according to the <a href="https://www.pewforum.org/fact-sheet/gay-marriage-around-the-world/">Pew Reserach Centre</a>. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/finnish-photographer-jp-metsavainio-took-over-a-decade-and-1000-hours-of-photography-to-create-this-picture-of-the-milky-way-and-20-million-stars/slidelist/81563516.cms">It took over a decade and 1,000 hours of photography to create this picture of the Milky Way</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-turns-down-1-million-for-the-tweet-he-was-selling-as-an-nft/articleshow/81546434.cms">Elon Musk turns down $1 million for the tweet he was selling as an NFT</a> <a href="https://www.businessinsider.in/india/news/india-has-no-plans-of-suspending-the-use-of-the-astrazeneca-vaccine-covishield-vaccinations-will-go-on-with-full-vigour/articleshow/81552070.cms">India has no plans to suspend use of the AstraZeneca vaccine — ‘Covishield vaccinations will go on with full vigour’</a>

Japan’s same-sex marriage ban ruled ‘unconstitutional’ as India’s LGBTQ community waits in hope

<ul><li> For years, talking about the queer community was a taboo in the Indian advertising industry. Today, while there have been some path-breaking campaigns in acknowledging the community and giving them a voice, a lot more still needs to be done.</li><li>To mark <keyword id="168821" type="PERSON" weightage="20" keywordseo="Pride-Month">pride month</keyword>, we look back at some of the iconic advertisements that initiated an early conversation in our country, which were still a taboo back then and created a ripple effect by bringing to light some of the issues that LGBTQIA communities continue to face. </li></ul>The month of June is observed as Pride month all over the world, which is a movement that brings the entire LGBTQIA+ community together to spread the message of equality in all spheres of life, including the right to love. However, where are Indian brands? It has been 17 days since pride month began. Apart from the rainbow-coloured logos on social media, no brand has mustered the courage to normalise the whole spectrum and initiate a concrete conversation. Since many Indian brands have failed to give the community a voice through their campaigns, to make the queer community a part of their daily life conversation and step out of their comfort zones, we decided to look back at some of the iconic advertisements that were created by brands who dared to speak up and break some taboos. These ads created a much-needed ripple effect in our country and started a conversation around issues that the community goes through. They simply reminded the audience that they care about queer community’s existence by acknowledging and representing different kinds of humans -- conveying that India is stepping out of its closest. Here are a few of our favourites: Fastrack’s The Closet Way ahead of its time, Fastrack’s ad was quite special for India. It was the very first brand in India to show a lesbian couple. It encouraged the youth to come out of their closet of comfort and speak up, metaphorically. In this commercial, the doors of a cupboard open, and two young women walk out, adjusting their clothes and hair. “Come out of the closet”, urges the advertisement and ends with Fastrack’s now famous tagline, “Move On.” <div type="Youtube" id="fmk9D53G6F8" title="Fastrack - The Closet" thumbUrl="https://i.ytimg.com/vi/fmk9D53G6F8/mqdefault.jpg"></div> Anouk’s The Visit Myntra’s ad for its ethinic wear brand Anouk was probably one of the first ads in India that attempted to normalise different sexual preferences, without looking at them through a lens of judgement or for sake of tokenism. Created by Ogilvy India, this ad left you mesmerised by the beautiful portrayal of pure love that can happen between any two people. <div type="Youtube" id="Ef27m5ocK6Q" title="ANOUK, BOLD IS BEAUTIFUL - A Wonderful Video Titled &quot;THE VISIT&quot;" thumbUrl="https://i.ytimg.com/vi/Ef27m5ocK6Q/mqdefault.jpg"></div> Vicks’ Touch of Care Normalising trans motherhood in India, Vicks initiated a conversation everyone else was afraid to have. It highlighted how motherhood goes beyond biological ties with transgender activist Gauri Sawant, who also runs an NGO called Sakhi Char Chowghi. It showcased her real life story of bringing up a girl. Conceptualised by Publicis Singapore for Procter &amp; Gamble, the video shows how Gayatri, at the age of 6, loses her biological mother, a sex worker, to HIV AIDS. It ends with Gayatri vowing to become a lawyer so that she can fight for equal human rights and build an equal environment for her foster mother. <div type="Youtube" id="7zeeVEKaDLM" title="Vicks - Generations of Care #TouchOfCare" thumbUrl="https://i.ytimg.com/vi/7zeeVEKaDLM/mqdefault.jpg"></div> Brooke Bond Label’s 6 Pack Band The 6 Pack Band was a story of six transgender singers from Hijra community, which is commonly ignored by most and misunderstood by all. However, this song concentrated on what they rejoice about being queer and trangenders instead. It was an initiative created and driven by Y-Films, the youth wing of Yash Raj Films, to help further the cause of gender equality in India. This campaign also brought home the coveted Grand Prix in the Glass Lion category at Cannes. <div type="Youtube" id="blvOBnSRfVc" title="Hum Hain Happy - 6 Pack Band" thumbUrl="https://i.ytimg.com/vi/blvOBnSRfVc/mqdefault.jpg"></div> The Times of India's Out and Proud On September 6, 2018 the Supreme Court of India decriminalised section 377 of the Indian Penal Code. With this judgment, the gay community got a legal nod to sexual rights. While the laws have changed for the better, we still witness negative attitudes towards the LGBTQIA+ people. The Times of India in collaboration with FCB India was one of the large-scale campaigns that was launched to celebrate this historic milestone. Its campaign aimed to empower the members of the queer community to live a dignified life with acceptance and pride. It lent a medium to a community whose voice was buried for generations. It brought to light the discrimiation they face every day and reminded them how they always ‘had a place in our hearts.’ <div type="Youtube" id="-p8DFP1Tn1s" title="Times Out &amp; Proud" thumbUrl="https://i.ytimg.com/vi/-p8DFP1Tn1s/mqdefault.jpg"></div> OkCupid’s #LoveAtFirstPride Another brand that celebrated striking down of article 377 in 2018, OkCupid, digital campaign #LoveAtFirstPride acknowledged love beyond binary identities. The idea behind the campaign was to cherish the freedom for all gender identities and this has been captured in the video with the LGBTQ community answering questions like ‘How much would you reveal about yourself on a first date? ,‘What are your views on moving on with your partner?’ and ‘What are your thoughts on PDA?’. The campaign was launched in the middle of the pride month and in less than a week, it received an overwhelming support of over a million individuals spread across platforms. The campaign is aimed at spreading the message of equal representation of different sexual orientations. <div type="Youtube" id="IwDW6x0bezs" title="OkCupid’s #LoveAtFirstPride is a Shout Out to Every First Stride Taken With Pride" thumbUrl="https://i.ytimg.com/vi/IwDW6x0bezs/mqdefault.jpg"></div> While all these ads revolutionised the industry in their own ways, legacy brands still shy away from including LGBTQIA+ community in their functional ads or an everyday sales ad. ‘Sexuality’ is still used as a plot twist in ads when we should be moving beyond tokenism and to normalise it further, we need to start including them next to a cis gender couple.

Pride Month: Campaigns that started conversations and sparked change in India

<ul><li><keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword> founders tell Business Insider that they expect a huge spike in users this year </li><li>Two big sporting events-- the IPL and the cricket world cup-- in 2019 may drive boost user interest in the country’s biggest fantasy gaming site. </li><li>The business prospects got a big fillip after the country’s cricket regulator, BCCI, declared Dream11 as the official partner for the upcoming cricket league. </li><li>Reports suggest Steadview Capital may invest another $100 million in the company this year to make it India’s first gaming unicorn. </li></ul>Bhavit Sheth and Harsh Jain used to spend a lot of their time playing fantasy games for the English Premier League. And when the Indian Premier League began in 2008, the two 22-year olds realised that it was time to turn their obsession into a business – and the fantasy gaming site Dream11 was born. Today, 11 years later, the Board of Control for Cricket in India has declared Dream11 as the official partner for fantasy games during the upcoming season of the IPL, and arguably the country’s biggest sports icon right now, Mahendra Singh Dhoni, is their brand ambassador. Now, the founders are gunning for the coveted tag of a unicorn – a company that is worth at least a billion dollars. With the IPL and the cricket World Cup lined-up over the next three months, 2018 may be a big year for Dream11. “We expect to have 90 million users by the end of the World Cup and 100 million by the end of 2019.” Sheth told Business Insider. The Indian fantasy gaming industry is projected to be a ₹118.8 billion market by 2023. While cricket holds the majority of the market share, other games too are picking up. At Dream11, 85% of their users play fantasy cricket while other sports like Kabaddi, basketball and hockey are picking up. The startup last raised $100 million in a Series D round at a valuation of a reported $750 million. Its investors include Tencent, Kalaari Capital and private equity firm Multiples Alternate Asset Management. In <a href="https://www.vccircle.com/steadview-capital-may-make-dream11-india-s-first-gaming-unicorn/">March 2019</a>, there have been reports about Steadview Capital looking at infusing $100 million into the startup taking its valuation to over $1.3 billion and making it India’s first gaming unicorn. Dream11 has 52 million users who compete with each other on the site. The users assemble players from different teams to create a virtual line-up of their own, alongside an actual match. Based on the performance of their chosen players on the field, the virtual gamers are ranked on the virtual leaderboards. “We started off as a free-to-play site, trying to get revenue through ads. Three years into the business, we saw that with a niche product like ours which doesn’t have millions of page views, ads were just hampering the user experience on our app,” said Sheth. So, they changed the format. They allowed users to select their players not for the entire season at one go but only for daily matches. But they still hadn’t solved the question - how do they make money? That’s when they came up with the idea to ask users to pay and then they would pool in the money and award the winner. “But we weren’t sure if it was legally allowed in India. After consulting with many lawyers and one-and-a-half years of research, we knew that since this was a game of skill, there were no legal issues,” said Sheth. The Punjab and Haryana high court declared the Dream11 format of fantasy sports as legal and one that requires considerable skill and judgment. This judgement was further ratified by the Supreme Court When in 2014, Dream11 raised its first round of funding they still had just 300,000 users. But thanks to the popularity of IPL, today they stand at 52 million users. In fact, after signing former Indian cricket team captain MS Dhoni as their brand ambassador, just during the 2018 IPL their user base went from 20 million to 40 million. Their initial 10 million users were dominated by Tier 1 cities but now 50% of their traffic comes from Tier 2,3 and 4 cities. “As 22-year-olds we started this business, engineers who didn't know anything about business. We didn't even in our wildest imagination think that we will have over 52 million users in such short time, with only a team of over 200 managing them and be at this scale,” said Sheth. See Also: <a href="https://www.businessinsider.in/gaming-startup-dream11-strikes-gold-as-the-official-partner-of-ipl/articleshow/68426121.cms">Gaming startup Dream11 strikes gold as the official partner of IPL</a> <a href="https://www.businessinsider.in/mobile-premier-league-signs-virat-kohli-as-brand-ambassador/articleshow/68266803.cms">It’s Virat Kohli Vs MS Dhoni in the Indian e-gaming space</a>

You Searched For "india judgements 2018" and got 9 results

10 landmark judgements India’s Supreme Court passed in 2018

Prabhjote Gill

10 landmark judgements India’s Supreme Court passed in 2018

SC strikes down electoral bond scheme, terms it unconstitutional

PTI

India’s apex court directs UP state government to grant ₹25 lakh as interim compensation to Unnao rape survivor

Prerna Sindwani

India's central bank confirms cryptocurrencies aren't banned - and says its 2018 order barring banks from crypto transactions is no longer valid

Shalini Nagarajan

Nearly 180 professional colleges in India shut down this year

PTI

Japan’s same-sex marriage ban ruled ‘unconstitutional’ as India’s LGBTQ community waits in hope

Prabhjote Gill

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