Delhi Police have sought judicial custody of Bajaj, who has moved a bail application for his release.
A successful entrepreneur and now an investor, Avnish Bajaj, the managing director of Matrix Partners India, has seen both sides of the investment cycle.
The court is likely to pronounce the order later in the day.
National Association of Software and Service Companies on Monday condemned the arrest of e-commerce portal Baazee.com's CEO Avnish Bajaj in the Delhi Public School MMS scandal.
Vacation Judge Justice Vikramjit Sen posted the application for further hearing on Tuesday.
The MMS had allegedly been put on the website of Bazee.com for sale.
30 percent of our business comes from exports to countries like the US, the UK, Canada and Germany
San Jose-based eBay Inc. said it is 'outraged' at the arrest of Avnish Bajaj, the chief executive officer of the company's Baazee.com subsidiary in India.
Vacation judge Justice Vikramajit Sen granted bail on two sureties of Rs 100,000 each. He also asked Bajaj to surrender his passport.
With the integration process for baazee.com with Nasdaq listed eBay.com getting completed, baazee.com as a web address will get transformed into eBay.in.
They encouraged start-ups to pay for acquiring customers rather than focusing on the business fundamentals.
Access to capital for sub-standard companies is on the decline
Suveen Sinha finds out what the tribe of modern, internet entrepreneurs who no longer run their first start-ups are up to.
The ban on taxi aggregators can put at risk investments of at least Rs 2,000 crore (Rs 20 billion), made by private equity (PE) and venture capital (VC) investors.
In the past three weeks, early-stage venture capital firm Matrix Partners has invested in three start-ups.
The Information Technology Act needs another tweak to allow a different kind of information intermediary to flourish, says Ajit Balakrishnan.
Venture capitalists are leveraging their experience to build something new.
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