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Industry News
NCLT starts bankruptcy process for Reliance Communications
Publication- VCCircle
Edition- Online
Date- 10 May, 2019
The National Company Law Tribunal (NCLT) on Thursday admitted Reliance Communications Ltd (RCom) for insolvency and allowed it to exclude the 357 days spent in litigation from the resolution process. The NCLT’s Mumbai bench also superseded RCom’s board, allowed a consortium of 31 banks led by State Bank of India to form a committee of creditors (CoC) and appointed a new resolution professional to run the company.
RCom, which has total debt of more than Rs 50,000 crore, becomes the first Anil Ambani group company to be declared bankrupt. The NCLT’s decisions come after RCom last month withdrew a petition challenging an order of the tribunal that allowed insolvency proceedings to be initiated under the Insolvency and Bankruptcy Code (IBC).
The NCLT bench of VP Singh and R Duraisamy also allowed RCom and its units Reliance Infratel and Reliance Telecom to exclude the litigation period from the bankruptcy process, a person aware of the development said.
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Exclusive: Paytm Mall’s dodgy affair – E&Y is conducting forensic audit around potential fraud
Publication- ENTrackr
Edition- Online
Date- 10 May, 2019
Ever since Entrackr broke the story of Paytm Mall-scale-down of B2C business in January, multiple media reports surfaced building on our reportage. While Vijay Shekhar Sharma and investors are toiling hard to turnaround the commerce business, the company has slipped into more troubles as the board mandated E&Y to conduct a forensic audit at Paytm Mall.
Over half a dozen sources inside and outside Paytm Mall have confirmed that forensic audit is underway at the Noida-based firm. “Ernst & Young has been conducting a forensic audit at Paytm Mall for the past several weeks. The audit has been approved by the board after E&Y completed a process audit in January this year,” said three reliable sources to Entrackr.
Hived off from the parent entity – One97 Communication in late 2016, Paytm Mall took one of the shortest durations to become a Unicorn. This was achieved on the back of the tried and tested cashback model of Paytm itself, a model that sadly failed to work for Paytm mall.
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Opinion: How IoT is transforming transportation industry
Publication- ET Auto
Edition- Online
Date- 10 May, 2019
With the world advancing towards the concept of smart cities, Internet of Things has undoubtedly become one of the main drivers for large businesses to grow. Already making a significant impact on various businesses, IoT is set to continue to steer innovation and development throughout the fleet management industry.
The global trucking industry is undergoing enormous change. Older vehicles are being replaced with ‘smart trucks’, using Machine-to-Machine (M2M) / Internet of Things (IoT systems and cellular communications technologies to transmit essential information for management of today's fleet operations.
By combining IoT with artificial intelligence, big data, and predictive analytics, IoT has the power to revolutionize the fleet management industry.
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Unlimit opens centre in Bengaluru for innovations in IoT
Publication- Business Standard
Edition- Online
Date- 10 May, 2019
Leading Internet of Things (IoT) service provider Unlimit of the Reliance ADA Group on Thursday opened its research and development (R&D) centre in this tech hub for innovations in the IoT domain. "The R&D centre will focus on customised projects, supply chain, connected vehicles and industry 4.0," said the Mumbai-based company in a statement here. The three-year-old subsidiary has about 500 certified partners across the country to provide IoT offerings from managed connectivity to device management and application platform to any form of analytics.
"The centre will play a key role in our expansion strategy to generate $200 million (Rs 1,380 crore) revenue by 2020," said the statement.The company has partnered with IoT stakeholders such as BSNL, Cisco Jasper, PTC, Software AG Cumulocity IoT, and IBM Watson IoT to provide IoT solutions in automotive, industry 4.0 and supply chain.
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Unlimit Opens R&D centre in Bengaluru for IoT innovations
Publication- BW CIO World
Edition- Online
Date- 10 May, 2019
Unlimit, an end-to-end IoT service provider in India, has strengthened its presence in India with the opening of its new R&D Centre in Bengaluru. With this centre, Unlimit aims to create new avenues and innovations in the IoT industry, and will focus on customised projects, supply chain, connected vehicles and industry 4.0. This R&D centre will play an important role in Unlimit’s expansion strategy, and its plans to target close to USD200 million by 2020.
Since its inception around three years ago, the company has successfully built an ecosystem of 500+ certified partners in the country, providing the first inclusive IoT offering right from managed connectivity to device management and application platform to any form of analytics. Unlimit has partnered with established IoT stakeholders such as BSNL, Cisco Jasper, PTC, Software AG Cumulocity IoT, and IBM Watson IoT to provide dedicated IoT solutions in the field of automotive, industry 4.0 and supply chain.
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Blockchain Technology-based Programmatic Supply Chain Reconciliation Designed For PepsiCo
Publication- Owlt Market
Edition- Online
Date- 10 May, 2019
Mindshare is a media agency network who has made a partnership with a software company called Zilliqa Research, an online advertising company called Rubicon Project, a programmatic marketing technology company called MediaMath and a Media company called Integral Ad Science. A blockchain technology-based programmatic supply chain reconciliation is designed for PepsiCo through the partnership.
The Director of Consumer Engagement for PepsiCo AMENA Farida Shakhshir said, “We are happy to be partnering with Mindshare to test the application and value add of blockchain in media. It is key that we stay abreast of new technologies, and continue to advance transparency, viewability, brand safety and buying efficiency. The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.”
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BSE: Combating Data Threats with Big Data Analytics
Publication- Elets Online
Edition- Online
Date- 10 May, 2019
At BSE, we have set up a pragmatic Data Governance Policy in place. We have implemented Big Data Analytics for managing high volume data. The journey of Big Data at BSE has been continuously evolving with implementation of new technologies together with security and data access management, says Kersi Tavadia, Chief Information Officer, BSE Ltd, in conversation with Elets News Network (ENN).
How significant is the role of a Chief Information Officer (CIO) in comparison to other C-Suite contenders in a financial entity?
In the financial industry, CIO has to play a dual role in understanding its core business and driving the business with the help of IT strategies and IT technologies. In fact, CIO is the only person who has the crucial business knowledge and Information Technology insights and this unique knowledge and experience make a key differential as compared to other C-suite contenders.
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Accenture India Chairperson comments on the skill requirements in a digital India
Publication- Consultancy.in
Edition- Online
Date- 10 May, 2019
Adaptation to the new digital environment not only involves the development of new skills amongst the workforce, but is also heavily conditional on fast and flexible models of learning, according to Accenture India Chairperson and Senior Managing Director Rekha M. Menon.
Speaking to liveMint, Menon comments on a rapidly changing work environment in India, wherein digital skills include the ability to work in collaboration with robots and artificial intelligence. Analysis over recent years has revealed that one in ten jobs across the Indian business environment will require an entirely different skill profile over the next half decade.
Menon echoes this claim, detailing examples of some of these changes. The first and perhaps most predictable of these changes will be the emergence of skills that require controlling robots and other technological implements, such as drone operators or social media managers.
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Kaspersky Lab launches service packages to protect blockchain businesses
Publication- CRN
Edition- Online
Date- 10 May, 2019
Kaspersky Lab has launched new service packages designed for businesses working in the blockchain industry and crypto economy. Token offering (ICO/ STO) projects and cryptocurrency exchanges are now offered tailored services, such as smart contract code review, application and website security assessment, security awareness trainings, protection against phishing, and incident response. In addition to these services, Kaspersky Lab also provides crypto exchanges with fraud and money laundering prevention and targeted attack detection.
The blockchain industry and cryptocurrency market have been rapidly developing and now constitutes a significant share of the global economy. The total market capitalisation of digital currency is estimated to be US$ 362 billion and, according to PwC, more than US$ 19.7 billion was collected through ICOs in 2018.
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Practical applications of blockchain gain more traction: Deloitte Survey
Publication- Money Control
Edition- Online
Date- 10 May, 2019
Blockchain investment continues to surge as new, practical business applications gain traction and business leaders begin to see beyond the "hype cycle," according to Deloitte's "2019 Global Blockchain Survey.” While blockchain implementation continues to increase across financial services, its transformational importance is gaining momentum across multiple sectors, including technology, life sciences, media, telecommunications and government. The survey reveals that executives see blockchain as a more mature solution, while they're taking pragmatic approaches toward investments and adoption.
Eighty-three percent of the 2019 blockchain-savvy survey respondents cite that their organizations see compelling use cases for blockchain, and more than half (53 percent) reported that blockchain technology has become a critical priority for their organization this year — a 10 percentage point increase over last year. This momentum is translating into action, with 40 percent reporting that they are willing to invest USD 5 million or more in new blockchain initiatives over the next 12 months.\
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