iWorld
Bolo Indya temporarily removed from Google Playstore
New Delhi: Google has temporarily removed home-grown social media app Bolo Indya from Playstore following a copyright complaint made by music giant T-Series. The live-streaming platform has around 70 lakh users.
Super Cassettes Industries Pvt Ltd, which operates under the brand name T-Series is the largest music record label in the Indian music industry. Last year, the company served an infringement notice to social media and video sharing platforms to pay around Rs 3.5 crore in damages from using its copyrighted contents and “render accounts of all revenues illegally earned” by the platforms from the copyrighted content.
While most of the companies including Mitron, MX Player’s Takatak, Triller, and Josh have settled the issue with the music company, Bolo Indya has not resolved the matter yet, according to T-Series.
“We had sent them (Bolo Indya) various legal notices but they continued to infringe our copyrights and, thus, we wrote to Google under applicable laws to take down this infringing app from their app store. We take infringement very seriously and will not shy away from taking more stringent legal action against Bolo Indya and any other such infringing platforms to protect our copyrights,” T-Series president Neeraj Kalyan told PTI.
Bolo Indya spokesperson said the company is temporarily unavailable from Google Playstore due to some conflicts with T-Series and it is in talks with T-Series and Google to resolve the issue at the earliest and the platform will be back on playstore shortly.
“We assure our users that all their created content and transaction details for in-app currency purchases are safe and Bolo Indya will be back soon on playstore for them to continue having their friends download the app to enjoy the new features,” said the spokesperson.
iWorld
Jio IPO faces delay as India yet to clear listing rule changes
Proposed rule change allows mega IPOs to float just 2.5 per cent
MUMBAI: The Indian government’s delay in formalising changes to listing rules may derail the targeted timeline for the initial public offering (IPO) of Jio Platforms, the digital arm of Reliance Industries controlled by billionaire Mukesh Ambani.
According to media reports, Reliance is awaiting formal notification of regulatory amendments before appointing investment bankers and filing a draft IPO prospectus. The company is now aiming to submit the draft prospectus before April, depending on when the government issues the notification.
Jio, which owns India’s largest wireless operator, is widely seen as one of the crown jewels of Ambani’s business empire. Its listing, the first public offering of a major Reliance unit in nearly two decades, could become the country’s biggest ever IPO.
Investment bankers have proposed a valuation of as much as $170 billion for the company. Even the minimum stake sale could raise roughly $4.3 billion, potentially placing Jio among India’s most valuable listed companies.
Ambani had earlier said that Reliance was targeting a listing of Jio in the first half of 2026, a plan first outlined in 2019 with a five-year timeline. In 2020, global technology groups Meta Platforms and Alphabet invested more than $10 billion combined in the company.
The delay stems from pending regulatory changes approved by the Securities and Exchange Board of India in September. The amendments allow companies with a post-issue market capitalisation exceeding Rs 5 trillion (about $55 billion) to float as little as 2.5 per cent of equity in an IPO, compared with the current 5 per cent minimum.
Such changes are expected to enable mega listings, including potential offerings by Jio and the National Stock Exchange of India. However, the reforms still require formal notification from the government.
Meanwhile, the National Stock Exchange is moving ahead with plans to raise as much as $2.5 billion through its own IPO and has recently invited banks to pitch for roles in the offering.
