Former CEO, Balaji Telefilms. Past: Private Equity, Venture capital & entrepreneur. Ex-Snapdeal & Freecharge

Delhi
Joined June 2013
I am still getting calls from @KotakBankLtd for a recently opened a/c for a startup saying I should apply for GST asap for the new company. And it’s not a suggestion. They apparently will freeze it is they’re not satisfied. When the govt doesn’t mandate that should they not have told @RBI to not force banks to do this? @sanjeevsanyal
Replying to @paramdane
Can you please explain this issue in a short note. And send it to [email protected] ...... Iist out exact issue with each bank..... detail matters .... and provide a contant number
2
1
82
And within a week of this and receiving calls from @KotakBankLtd @KotakCares the said account was frozen for the same reasons. Best of luck doing any startup in India. @sanjeevsanyal @RBI any reason for this hostile attitude to business in general or is this specific to @KotakBankLtd ?
1
25
Abhishek Kumar retweeted
Hi friends, thanks for all your support for I, Shivani by @anusinghc In light of all the big things going on we are rescheduling tomorrow’s launch. Stay safe and take care of each other 💜🙏🏾
1
2
4
611
Abhishek Kumar retweeted
Massively blackpilled about small biz in 🇮🇳. Its impossible for me to open a current account for a recently started proprietorship with <9 employees and <20lacs turnover begging the officials. Tried every single major bank.
96
60
15
958
160,517
Abhishek Kumar retweeted
BREAKING ON ET # Centre will soon release a consultation paper focussed on AI that will set the framework for the next set of techno-legal regulations for the fast growing sector, electronics and Infornation technology minister Ashwini Vaishnaw said on Thursday. # To be released within 1 month, it will focus on safety, humanity, skilling, inclusivity, and harm mitigation, Vaishnaw said. # The government has also initiated the next stage of long term procurement of 10,000 GPUs, with a procurement order for 5,000 GPUs having been issued # A 3-4 year roadmap for Indian GPUs being used for AI inference is now visible, and will be announced in the next few months. # The government will also empanel AI models for official use. @Subhayan_ET reporting!
3
16
60
5,542
Abhishek Kumar retweeted
SaaS will be dead in India. SaaS founder has to check every single payment many to comply with this shit regulation
At this point, there is no point in running a SaaS business in India. Please let’s leave.
8
47
2
331
7,272
Between GST returns, TDS filings, DIR KYCs, bank requirements (OTPs for all the above), this new EDF … you’re left doing paperwork 1/4 weeks every month. So basically you’re taxed 4/12 months income and spend 3/12 months are spent doing paperwork for RBI, IT, GST etc. @startupindia @RBI thanks. (Oh yeah add in some SIR to this recipe)
श्री @narendramodi की सरकार ने एक और व्यवसाय जो अच्छा चल रहा था, उसकी रेड मार दी है। एक नया कानून लाए हैं ताकि आपका ‘ईज ऑफ डूइंग बिजनेस’ तेल लेने चला जाए। यदि आप कोई सामान या सेवा दे कर विदेशी मुद्रा अर्जित करते हैं, तो आपको अब एक नया फॉर्म भरना होगा, यदि किसी क्लायंट ने आपको पैसे नहीं दिए तो उसका कुछ नहीं होगा, आप दूसरे किसी क्लायंट को अपनी सेवा नहीं दे पाएँगे। यदि आप विदेशी बच्चों को ट्यूशन देते हैं, फ्रीलान्स ग्राफिक्स, एडिटिंग आदि कार्य करते हैं, तो आपको बर्बाद करने के लिए यह नियम लाया गया है। आप फॉर्म भरते रहिए। कुछ भी मिसमैच हुआ तो आपका पैसा अटका रहेगा जैसे कि एक्सचेंज रेट। अभी तक @RBI ने स्पष्ट नहीं किया है कि यूट्यूब आदि के माध्यम से धन अर्जित करने वाले इसमें कवर्ड हैं या नहीं? यदि हैं तो उनका क्लायंट कौन है? यदि उसके वीडियो पर चलने वाले विज्ञापन भारतीय लोग देखते हैं तो उसका क्या होगा? यदि विदेशों के लोग देखते हैं तो उसका क्या? यह सरकार लाइसेंस राज का बाप बन चुकी है। @nsitharaman जी, यदि यह आपके कार्यालय का कार्य है तो थोड़ी बहुत स्पष्टता आवश्यक है। क्या ऐसे विचित्र नियम बनाने से पहले AI से बने पोस्टर डालने के अलावा और कोई स्पष्टीकरण आप लोगों ने कहीं दिया है?
74
Abhishek Kumar retweeted
A 100$ unrealised export receipt will essentially block you from doing further exports? Who in hell comes up with these rules? What about Short payment?
🚨 New RBI rule for anyone invoicing clients outside India, effective 1 October 2026. Service and software exporters (freelancers, IT firms, consultants, tutors) now need to file an Export Declaration Form (EDF). #FEMA #RBI #ExportCompliance #Freelancers #IndianStartups
12
52
6
290
10,778
This should be revisited. It’s not just freelancers. Any startup working with global clients gets dragged into this. Banks have all the information in any case. Also, payments are delayed many times. Welcome to enterprise sales. Catch the frauds not burden the entire sector with unnecessary compliances. #EDF #RBI
New rule for reporting software/services exports to RBI. Involves more filings, banking coordination etc. Seems targeted at freelancers, consultants, 1-3 member IT/dev shops, SMEs... since the mid/large cos are already doing this for years. Will add more friction to the business cycle by slowing down export transactions, payments, cash flows. IMHO this looks motivated by the familiar Indian bureaucratic playbook - to catch the errant / dishonest 5%, punish the rest 95% as well. For every step forward, we take two steps backwards! Clearly reverse EODB at play! #EDF #RBI
5
31
138
3,168
Abhishek Kumar retweeted
This is so exciting for us. Two more in the series THIS October. #books #sayagain @BloomsburyIndia
4
15
629
Abhishek Kumar retweeted
And of course we are launching the wonderful I, Shivani by @anusinghc this coming weekend! For our friends in the rest of the world, you can also order this via @stck_me pretty much WHEREVER you are in the world, acc @samirpatil and the team :) Try this and let us know #SayAgain #books sayagainpress.stck.me/book/2…
1
4
1
11
1,103
Abhishek Kumar retweeted
This (long) weekend on the Say Again Podcast, we'll hear from @AditiKaul1 on expressive arts therapy... how colours and metaphors, art and music can help us articulate (and even heal!) in ways that words sometimes fall short. @healthcollectif Stay tuned for more!
1
4
8
756
Abhishek Kumar retweeted
I’ve been living in Gurgaon for 8 years now. I HAVE the choice to leave, but I can’t think of another Indian city that would give me any better quality of life while offering me the same earning opportunities. No Indian city is truly “livable”. We create our own bubbles of comfort and make peace with the rest. I did that while living in Delhi, Mumbai, Hyderabad for last 20 years before moving to Gurgaon. If you spend every day cribbing about the city you live in, eventually you’re just making your own life miserable. Find what works for you
I am in Gurgaon rn and can’t believe so many high salaried people are choosing to spend a significant portion of there life here
86
38
9
585
114,837
It’s amazing how anti-startup & anti-business India has become. Started up, registered a new co., opening a bank a/c the bank has been asked by the govt to ask for commercial contracts, GST, revenue etc for compliance. Which SAAS startup has existing revenue week after registering the Pvt ltd without a GST no.? And GST requires a bank a/c so can’t get that business anyway till the a/c is opened! @FinMinIndia @RBI which rocket scientist came up with these reqs?? @startupindia is a joke! @KotakBankLtd @udaykotak
1
3
156
Abhishek Kumar retweeted
Now ECINET software decides whether I am a voter or not. This happened in Bengal leading to huge deletions after logical discrepancy. 90 % of deleted names are back in rolls following tribunal order. But, it may take years to get the name back. Process is punishment for voter now
3
26
66
3,160
I wonder what was the need for this? Wasting thousands of working hours of govt servants & citizens plus crores in expenses for what? Removing valid voters then making them go through hoops to get back their right to vote? I have half a mind to give up and not follow through. Does that mean I’ve been an ineligible voter for last 30 years that I’ve voted along with 46 lakh others in Delhi? @ECISVEEP
Spoke to soon! Notices duly received for the family. My wife's notice, received today (Sept 24) asks her to show up on Sept 21. More important, the Delhi CEO website says no notices have been sent to us in the first place. Well. 🤔
1
136
Abhishek Kumar retweeted
This is a book I’ve been waiting for. So no surprise then that I ushered it into the world, right? A huge shout to @kamna_chhibber for co-authoring The Emotional Flex. This is brought to you by Say Again Press X @BloomsburyIndia Thank you @dr_samirparikh for the support!
1
5
9
874
Abhishek Kumar retweeted
So excited to share that our book on Negotiation is up for pre-order! Please order for yourself or a friend! Huge thanks to @akumar2408 @ashwinsanghi @SwarnsB @nanditagurjar1 and Anirudh Kumar as well as @devikachitnis 🩵💪 Design @devanganadash From: Say Again Press X @BloomsburyIndia Link below
1
2
3
831