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TRAI steps up fight against spam calls, orders telecom operators to blacklist entities

YourStoryYourStory · 1y ago
TRAI steps up fight against spam calls, orders telecom operators to blacklist entities
Medial

The Telecom Regulatory Authority of India (TRAI) has instructed telecom operators to disconnect and blacklist businesses that use bulk connections for spam calls. Entities found guilty can be blacklisted for up to two years and won't receive any new resources from telecoms. This directive includes spam and fraud calls made over traditional phone lines and online platforms like WhatsApp. TRAI has also set deadlines for implementing measures like whitelisting URLs and ensuring traceability of message flow. The decision was made during a meeting with heads of telecom service providers. TRAI had previously asked operators to improve their mobile apps and web portals for spam complaint registration.

Crackdown on pesky telemarketers: TRAI asks telcos to curb misuse of msg headers, content templates

YourStoryYourStory · 1y ago
Crackdown on pesky telemarketers: TRAI asks telcos to curb misuse of msg headers, content templates
Medial

The Telecom Regulatory Authority of India (TRAI) has directed telecom service providers to take action against pesky telemarketers to protect consumers and prevent fraudulent practices. From September 1, 2024, messaging services will be prohibited from transmitting unauthorized URLs, OTT links, or callback numbers. Message traceability will also be enhanced starting November 1, 2024. TRAI has cracked down on unregistered telemarketers and implemented measures such as disconnecting telecom resources and blacklisting them. The authority has also introduced punitive measures for non-compliance with content templates and header guidelines. These efforts aim to ensure a secure messaging ecosystem and consumer protection.

Delhi HC directs shutdown of scam impersonating INDmoney and founder

EntrackrEntrackr · 1m ago
Delhi HC directs shutdown of scam impersonating INDmoney and founder
Medial

The Delhi High Court has ordered a sweeping crackdown on an online scam that allegedly impersonated wealth-tech platform INDmoney and its founder, Ashish Kashyap, to defraud investors. In a July 28 order, Justice Manmeet Pritam Singh Arora directed domain registrars, app stores, messaging platforms, banks, and cybercrime units to work together to shut down the operation. The case, filed by INDmoney Tech and its affiliate INDstocks, alleges that since November 2024, a person identified as “Ashok Kumar” used fake identities to lure victims through WhatsApp and Telegram groups, rogue websites, and mobile apps. The accused allegedly promised high returns from block trading, IPO tips, and stock market bets, using forged SEBI certificates and fake documents to appear credible. The fraudulent network involved eight websites, four fake apps, dozens of messaging accounts, and multiple bank accounts. According to INDmoney, the accused also copied its trademarks, logos, and website content to mislead users. Finding a clear case of trademark infringement, passing off, and copyright violation, and noting the actions were causing “irreparable injury”, the court restrained the defendant, its associates, and agents from using the brands or running the infringing platforms. It directed Gname.com, Dominet, and Dynadot to block the domains and share ownership details; Google and Apple to remove the fake apps; WhatsApp and Telegram to block the listed numbers and groups; and over a dozen banks to freeze linked accounts and provide KYC details. The National Cyber Cell and Gurugram Cyber Police were also told to file investigation reports. The next hearing is on September 2 before the Joint Registrar, and on December 17 in court. Following the order, Kashyap posted on LinkedIn, calling it a “strong digital-first stand against online financial fraud” and a key step towards protecting people from sophisticated scams. He urged people to “stay alert, stay informed, stay safe.”

MapMyIndia posts Rs 32 Cr profit in Q3 FY25

EntrackrEntrackr · 8m ago
MapMyIndia posts Rs 32 Cr profit in Q3 FY25
Medial

MapMyIndia posts Rs 32 Cr profit in Q3 FY25 CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the third quarter of FY25. The company reported a year-on-year revenue growth of over 24% compared to Q3 FY24. MapMyIndia’s revenue from operations increased to Rs 114.5 crore in Q3 FY25 from Rs 92 crore in Q3 FY24, its unaudited consolidated quarterly report sourced from NSE shows. Income from digital map data, GPS navigation, location-based services, and IoT were the primary sources of revenue for MapMyIndia, which accounted for 90% of the total collection. This revenue source increased by 32.5% to Rs 102.4 crore in Q3 FY25. However, income from the sale of its devices generated Rs 12 crore of revenue. The cost of IoT devices, employee benefits, and technical services (outsourced) were the major cost elements, which pushed the total cost of the firm to Rs 79.4 crore in Q3 FY25 against Rs 60.5 crore in Q3 FY24. With the increase in scale, MapMyIndia recorded a 4.2% increase in its profit to Rs 32.3 crore during Q3 FY25 as compared to Rs 31 crore in the third quarter of the previous fiscal year (Q3 FY24). MapMyIndia is currently trading at Rs 1609 per share with a market capitalization of Rs 8,753 crore ($1 billion). Last month, MapMyIndia announced that its CEO and whole-time director, Rohan Verma, will step down from his executive role effective March 31, 2025. Chairman and Managing Director Rakesh Kumar Verma will continue to provide leadership at MapMyIndia.

Gensol faces insolvency as IREDA moves NCLT over Rs 510 Cr loan default

EntrackrEntrackr · 4m ago
Gensol faces insolvency as IREDA moves NCLT over Rs 510 Cr loan default
Medial

Gensol faces insolvency as IREDA moves NCLT over Rs 510 Cr loan default The Indian Renewable Energy Development Agency (IREDA) has moved the National Company Law Tribunal (NCLT) against Gensol Engineering Ltd, seeking insolvency proceedings over a Rs 510 crore loan default, according to a regulatory filing made to the Bombay Stock Exchange (BSE). As per the filing, IREDA has filed the application under Section 7 of the Insolvency and Bankruptcy Code (IBC), showing a significant step in its attempt to recover dues from the Ahmedabad-based renewable energy firm. Gensol, which has been active in engineering, procurement, and construction (EPC) services for solar power projects, as well as in the electric mobility space, had taken loans amounting to over Rs 977 crore from IREDA and Power Finance Corporation (PFC). Out of Rs 977 crore, around Rs 664 crore was allocated for purchasing EVs for BluSmart, an electric ride-hailing platform co-founded by Gensol promoters Anmol Singh Jaggi and Puneet Singh Jaggi. This insolvency action comes just weeks after IREDA complained to the Economic Offences Wing (EOW), accusing Gensol of diverting funds and submitting false documents. The agency also said the company’s promoters reduced their shareholding without informing the lender. Following the controversy, market regulator SEBI barred both Jaggi brothers from holding any executive or directorial positions in listed companies. The duo stepped down from their respective roles on May 12. Gensol, once considered a rising player in India’s green mobility and solar infra push, is now facing a potential corporate insolvency resolution process (CIRP), subject to admission by the National Company Law Tribunal (NCLT).

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