Six-Airbag Rule Opposed 🚫, Legal Battle for Shaadi.com CEO 💼, iPhone 15 Pro Grey Market 📈

Catch up on the latest in 🇮🇳 Indian 🇮🇳 startups and tech landscape - all in 5 minutes. [Newsletter Banner] Daily 🇮🇳 IndiaTech 🇮🇳 Roundup Welcome to the NextBigWhat Daily IndiaTech News! Today's headlines include opposition to the six-airbag rule, a legal battle for Shaadi.com CEO, and iPhone 15 Pro models' grey market demand. 🔍🤝📱 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( India’s Road Transport Minister Opposes Mandatory Six-Airbag Rule for Cars 📈 India Business - Union Road Transport and Highways Minister, Nitin Gadkari, rejects making the six-airbag safety rule mandatory for cars in India. - He states the Bharat New Car Assessment Programme (BNCAP) will push companies to offer standard six airbags for a 5-star safety rating. - Gadkari emphasizes human behavior shifts in road safety and the need for automobile companies to establish scrappage, fitness, and driving training centers. Bombay HC stays Singapore court’s anti-suit injunction against Shaadi.com CEO Anupam Mittal 🇮🇳 IndiaTech - An anti-suit permanent injunction ruling issued by the High Court of Singapore against Shaadi.com founder and CEO Anupam Mittal was recently granted an interim stay by the Bombay High Court. - Mittal had been prohibited by the Singapore High Court from filing a suit with the National Company Law Tribunal (NCLT) in Mumbai alleging corporate retaliation by Westbridge Ventures II Investment Holdings. News consumption: This framework will help you decide what to focus on and what to ignore [NBW Newsletter Ad]( nextbigwhat brings you curated news, product and tech trends across a range of industries. In today’s world, we are constantly bombarded with news and information from various sources, including social media, news outlets, and online platforms. A significant amount of it can be overwhelming and may not necessarily have an impact on our lives. [Read]( High official prices spur demand for iPhone 15 Pro Models in India’s grey market 🇮🇳 IndiaTech - Due to high official prices, Indian customers resort to the grey market to buy iPhone 15 Pro and Pro Max models. - Dealers in Delhi’s Gaffar market offer the new iPhones around Rs 20,000-30,000 cheaper than retail prices. - Despite being bought from the grey market, the iPhones will have Apple’s international warranty, making this option more appealing to consumers. Byju’s rebuffs claims of hiding $533M in hedge fund, maintains credit agreement legitimacy 🇮🇳 IndiaTech - Byju’s denies allegations of concealing $533 million in a hedge fund via its US subsidiary, Alpha Inc, stating the transaction complied with credit agreement terms. - The report follows accusations of Alpha transferring over $500 million to a less-known hedge fund, Camshaft Capital Fund. - Byju’s has offered to repay a $1.2 billion term loan in less than six months amidst issues with its TLB lenders. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( Blue Dart Renames Premium Service to Bharat Dart, Experiences Stock Increase 📈 India Business - Blue Dart Express announced its premium service in India, Dart Plus, will be rebranded to Bharat Dart. - Bharat Dart aims to redefine express logistics by providing speed, coverage, and support for businesses with improved system visibility and easy payment options. - Blue Dart’s stock sees 2.32% increase with this move, as the company continues to extend its reach, particularly in tier-II and tier-III cities in India. Tamil Nadu Police website restored following $20,000 ransomware attack 🇮🇳 IndiaTech - Cybercriminals, allegedly based in South Korea, hacked Tamil Nadu’s police site and accessed a face recognition system database containing offender details. - The breach disrupted various e-services, including online complaints and access to investigation statuses. - While the forthcoming Digital Personal Data Protection Act, 2023 could impose significant penalties for such breaches, exemptions may allow Tamil Nadu Police to avoid repercussions. Travel Fintech Company Scapia Nears Close of $20-25 Mn Fundraising Round, Led by Binny Bansal’s 3STATE Ventures 🇮🇳 IndiaTech - The Bengaluru-based start-up founded by Anil Goteti is finalizing its second funding round of 2023, with contributions from prior investors Matrix and Tanglin. - Scapia’s co-branded credit card, created in partnership with Federal Bank, turns everyday expenses into travel rewards, and also features a travel platform for instant reward redemption. - Post-funding, Scapia’s expected valuation is around $100 million. RBI Mandates Release of Property Documents within a Month of Loan Settlement 📈 India Business - The Reserve Bank of India (RBI) has ordered Regulated Entities (REs), encompassing banks and non-banking finance companies(NBFCs), to release all original property documents within 30 days after full repayment of a loan. - Should REs fail to comply, a penalty of Rs 5,000 per day will be enforced. - These directions will come into effect from December 1, 2023. Apple iPhone 15 Pro models now integrate India’s NavIC GPS system 🇮🇳 IndiaTech - Apple has incorporated support for NavIC, India’s GPS alternative, in its new iPhone 15 Pro and iPhone 15 Pro Max models. - Other iPhone 15 variants do not support NavIC, which offers precise positioning and timing data over India and nearby regions. - NavIC support also features in the global iPhone 15 Pro models and various smartphones by other brands including Xiaomi and OnePlus. US leads as largest FDI source to India in FY23, followed by Mauritius and UK, shows RBI census 📈 India Business - The US contributed 17.2% of the total foreign direct investment (FDI) valued at Rs 8.58 lakh crore ($103 billion) in India in FY23. - Mauritius and the UK accounted for 14.9% and an undisclosed percentage, respectively, of the inward FDI. - India’s outward direct investment primarily flowed into Singapore, the US, the UK, and the Netherlands, totaling Rs 9.11 lakh crore ($109 billion). © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](