In Brief: Vodafone Idea counters phishing fraud allegations; Jupiter adopts ESAR plan

In Brief: Vodafone Idea counters phishing fraud allegations; Jupiter adopts ESAR plan
Photo Credit: Reuters
23 Jun, 2020

Vodafone Idea has countered digital payments platform Paytm’s lawsuit over phishing frauds, arguing that telecom companies cannot legally access or control content sent over their network, The Economic Times reported. Paytm parent One97 Communications earlier moved the Delhi High Court against telecom operators, TRAI and the communications ministry, blaming them for not blocking users carrying out phishing activities via unsolicited calls and SMS, and sought damages worth Rs 100 crore, it said.

Read: RJio criticizes Paytm for taking telecom operators to court on phishing frauds: Report

Neo-bank Jupiter implements employee stock appreciation rights plan

Amica Financial Technologies, which operates neo-banking startup Jupiter, has approved the adoption of employee stock appreciation rights plan, or ESAR Plan 2020, according to an Entrackr report. The newly implemented plan will constitute 24,386 SARs, the report said, citing regulatory filings. SARs, a type of bonus compensation given to employees, is equal to the appreciation in the value of the company’s shares over a pre-decided time period. This differs from employee stock option plan (ESOP) as employees don’t have to invest their own money to subscribe to the stock options, but receive the sum of the increase in stock or cash. 

Read: Neo-bank Jupiter raises $2 mn from Hummingbird, Bedrock Capital: Report

Messaging service Flock rolls out new features

Bhavin Turakhia-owned messaging service Flock said it has added new features such as Zoom integration, Flock feedback, video recording and emoji updates to improve the work from home experience for its users. In January last year, Turakhia said that he was restructuring Flock’s India operations and expanding marketing efforts in the US.

Read: Entrepreneurship is a full-time job. No time for angel investing: Bhavin Turakhia

TechM, Lucideus partner for cybersecurity risk assessment

Information technology services firm Tech Mahindra has entered into a strategic collaboration with cybersecurity startup Lucideus to conduct annual cybersecurity risk assessment for organisations globally. Dubbed Most Admired Cybersecure Enterprise (MACE), the initiative will help companies measure and counter cyber threats in real time via an online assessment using over 25 parameters, a statement said.