VARINDIA IT MAGAZINE

ED issues Rs 10,600-crore notice on Flipkart for forex violations:  The   Enforcement Directorate (ED)   has issued a show cause notice of about Rs 10,600 crore to   Flipkart   and its promoters for alleged violation of the foreign exchange law.   The notice under various sections of the  Foreign Exchange Management Act (FEMA)  was issued to 10 people last month that includes Flipkart, its founders  Sachin Bansal  and  Binny Bansal , among others. According to sources, the notice was issued after completion of an investigation and the charges include violation of the foreign direct investment (FDI) rules and those that regulate multi-brand retail. The company and its executives will now undergo adjudication that will be conducted by a Special Director-rank officer of the agency based in Chennai.   Proceedings under FEMA are civil in nature and the final penalty, post-adjudication, can be at least three times the amount contravened under the law. Flipkart said it was cooperating with th

91.2% of debt with 43 lenders is settled by Zee founder:  Subhash Chandra , the founder of   Essel group , has settled 91.2 per cent of his debt with 43 lenders, and the remaining dues are in the process of being paid.   Chandra in an open letter said, “I am happy to report that we have come out of the financial stress situation by settling 91.2% of our total debt to 43 lenders in 110 accounts. About 88.3% of the amount has been paid, while the remaining 2.9% is in the process of being paid. We are making all the required efforts to settle the remaining 8.8% of our total debt. I have no regrets for parting with substantial ownership in the business and especially in the ‘jewels of the crown’. This was done to keep the family’s honour."   In his first open letter issued on January 25, 2019, Chandra had apologised for the hardships faced by the lenders due to the liquidity crisis triggered by the  IL&FS  case and committed to repay the money to the best of his abilities by selli

Deloitte buys industrial cybersecurity business aeCyberSolutions:  Deloitte Risk & Financial Advisory   announced the acquisition of the industrial cybersecurity business ( aeCyberSolutions ), S.C.-based Applied Engineering Solutions, Inc. (aeSolutions). The deal will bolster Deloitte's existing cybersecurity offerings with the aeCyberSolutions business' well-tested frameworks, methodologies and technology-enabled tools for industrial control systems / operational technology (ICS/OT) security. The deal will also bring aeCyberSolutions' professionals, who have deep experience in industrial sector standards development and risk advisory services.   The remaining businesses which includes its engineering business unit were not part of the transaction.   "Cyberattacks on industrial controls systems for critical infrastructure are increasingly sophisticated and far-reaching, making cyber resilience and regulatory compliance more important than ever," said  Wendy Fr

Jio Fiber intros 'Camera on Mobile' feature, allows users to make video calls from TV using smartphone camera:  The users of   Jio Fibre   can now enjoy video calls from their TVs without requiring an external camera or webcam. The new feature is named ‘ Camera on Mobile ' and is available through the   JioJoin app   (previously named JioCall) available for Android and iOS devices.   ‘Camera on Mobile' allows users to use their phone camera as an input device for video calls. It enables video-calling through the JioFiberVoice that is bundled with Jio Fiber service to offer calling support to broadband users. Customers can also use the JioJoin app on their mobile devices to make voice calls using their landline number.   For last few months the ‘Camera on Mobile' feature has been in testing and it has now been rolled out to both Android and iOS users.   To start making video calls on TV using the camera of mobile device, user needs to first configure the 10-digit Jio