Latest News | Business Briefs 3 IAMAI-BACC Appoints Gulshan Rai as Advisory Board Member

New Delhi, Aug 3 (PTI) The Blockchain and Crypto Assets Council (BACC), part of industry body Internet and Mobile Association of India (IAMAI), on Tuesday said it has appointed India's first cybersecurity coordinator Gulshan Rai, as its advisory board member.

Rai has over 30 years of experience in information technology, including e-governance, cybersecurity, and cyber laws. He played an instrumental role in drafting national policies on cyber laws and cybersecurity, and has represented the country in various internet governance and cybersecurity discussions.

"It's a privilege and a proud moment for us to have Dr Rai on board. His vast experience will help shape BACC further and lay a very strong and secure foundation for this innovative industry," Naveen Surya, advisory board member of IAMAI-BACC, said.

He added that Rai's appointment is an impetus for the industry, which is at a nascent stage but has bigger dreams. "We feel privileged that Dr Rai's rich experience will be tremendously beneficial for the council and continue to drive the industry in the right direction," Surya said.

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* IndiaMART InterMESH subsidiary to acquire 26.23 pc stake in Agillos E-Commerce for Rs 26 cr

* IndiaMART InterMESH Ltd on Tuesday said its wholly-owned subsidiary will acquire 26.23 per cent of Agillos E-Commerce Pvt Ltd (AEPL) for Rs 26 crore.

IndiaMART InterMESH has indirectly, through its wholly-owned subsidiary Tradezeal Online Pvt Ltd, agreed to acquire 26.23 per cent of the share capital (on a fully diluted basis) of AEPL, a regulatory filing said.

"This investment shall be in line with the Indiamart Group's long-term objective of offering various Software as a Service (SaaS) based solutions for businesses," it added.

The total investment is approximately Rs 26 crore for the deal, the filing said. Subject to the completion of condition precedent by AEPL, the tentative time period for completion of the acquisition is estimated to be on or before September 16, 2021, it added.

"The Company through its wholly owned subsidiary, has agreed to subscribe to 2,694 Compulsorily Convertible Preference Shares (CCPS) of face value of Rs 10 each. In addition to the above, the company through its wholly owned subsidiary intends to purchase from existing investors, through secondary sale, 2,241 equity shares of face value of Rs 10 each," it said.

The final aggregate shareholding of the company, post this investment, in AEPL would be 26.23 per cent of the share capital on a fully converted and diluted basis, it added.

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* Zoomcar appoints country heads in Egypt, Philippines

* Zoomcar, a car sharing marketplace, on Tuesday announced the launch of its operations in international markets and said it has appointed country heads in Philippines and Egypt to help scale its business.

Hany Olama will lead Zoomcar's operations in Egypt as the as the vice-president and country head of that market. Olama has worked in the digital marketing, e-commerce, retail, software development and group buying industries with ArabyAds, Carrefour, Raya Electronics, Enlight and Dare'n'Deal.

Gene Angelo Ferrer is joining Zoomcar as the Vice President and Country Head for Philippines. Ferrer previously led Dostavista's, a Russian-based crowdsourced delivery platform, entry into the Philippines in 2018. "At Zoomcar, we have always been focused on personal mobility and this is the perfect time for us to expand internationally. Against the backdrop of Covid there are a lot of inherent tailwinds, which is really helping us capture more of the consumer mindset and gain market share," Greg Moran, CEO and co-founder of Zoomcar, said. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)