Many biggies, including Reliance and Tata, are trying to build a super app. Aggarwal reportedly wants to position Ola as a super app in the run-up to the IPO. Former executives we spoke to confirmed that there have been multiple discussions at the senior level to turn Ola into a super app as growth in the core business is hard to come by. What’s cookin’? If this smells like the beginning of a super app, that’s because it is. You can buy food and groceries through Ola Dash, and there’s also a link to buy the S1 electric scooter built by Ola Electric. It is not just cabs that you can hire on Ola’s app. This could make it the largest network of dark stores - neighbourhood distribution centres that facilitate delivery of products under 30 minutes - in India. In late January, for instance, Ola said it was going to set up 500 dark stores to expand its nascent quick-commerce business Ola Dash. This time, though, his aggressive attempts at expansion and diversification come ahead of its much-publicised initial public offering (IPO). For Bhavish Aggarwal, CEO and cofounder of Ola, the very business of ride hailing has never been enough. Hailing cabs can be quite a humdrum exercise. “Further, it is in the board's power to call for a governance review within a company,” said one of the people ET spoke to.
Grover’s argument: In his emergency plea, Grover had alleged that the internal investigation gave him no chance to present his case, and was aimed at tarnishing his reputation and removing him as a shareholder of the company.īut SIAC has said in its ruling that any decision it made would be premature, given that the findings of the governance review have not been finalised. He also sought to dissolve the current investigation committee and set up a new one.īharatPe’s board had hired independent consultant Alvarez & Marsal (A&M) to look into the company's internal processes.
The SIAC also said BharatPe’s shareholder agreement did not offer “any relief whatsoever” to Grover from internal investigation.Ĭatch up quick: Grover, represented by law firm Karanjawala & Co, moved the SIAC earlier this month, seeking an emergency relief from the review, which started in January. In an order passed on Friday, the arbitration body said Grover’s claims that the governance review was undertaken in an unfair manner held “no merit”, the people said. The Singapore International Arbitration Centre (SIAC) has rejected BharatPe cofounder Ashneer Grover's emergency plea to stop a “governance review” that is looking into allegations of financial irregularities at the fintech company, three sources told us. Ukraine raises millions in crypto: Ukraine's government has raised almost $8 million in cryptocurrencies after posting appeals on social media for donations of bitcoin and other digital tokens, according to blockchain analysis company Elliptic. Google bans RT app in Ukraine: Meanwhile, Google has banned downloads of Russian state-owned media outlet RT's mobile app on Ukrainian territory at the request of the government in Kyiv. This is likely to remain the situation for the near term as the Internet has been disrupted, many roads are blocked, and air space has been closed to commercial air traffic.” Sheltering in place: In a note on the Ukraine crisis on Saturday, ISG said: “…based on discussions over the past 48 hours, it’s our view that while some IT services employees have left the country, most are sheltering in place. It said initial feedback indicated no immediate impact. IT industry body Nasscom told us it was in constant touch with its members to understand the impact of the Ukraine crisis. “We have been monitoring the situation closely and have already activated the required business continuity measures,” said a spokesperson. Who’s doing what: HCL Technologies said it is closely monitoring the situation in delivery centres in the region. All enterprises should be prepared, whether they use Eastern Europe as a technology delivery location or not," it said in its advisory. "Cyber risk outside Ukraine has increased significantly over the past 48 hours.
ISG has also warned companies of disruptions due to cyberattacks. Though Indian IT companies don’t have large operations in Ukraine, they have big centres in Eastern European countries such as Hungary, Romania, Poland and the Czech Republic, where business continuity plans are being activated.Īccording to research firm ISG, about 50,000 tech workers and 200,000-odd technology freelancers in Ukraine could be affected by the crisis, and in turn affect operations of tech companies around the world. As the Russia-Ukraine crisis escalates, India’s information technology and business process management industry has gone into wait-and-watch mode.
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