Rajiv Bapna and Pradeep Bapna co-founded Allied Electronics & Magnetics Limited (widely known as Amkette) in the year 1985 for the production of floppy diskettes in India. By the year 1995 Amkette was the largest selling floppy diskette brand in India. With the advent of new technology in storage media sale of floppy diskette observed a constant decline. By the end of year 2004 floppy diskettes completely vanished from the market. Amkette anticipated the changes in the computer peripherals market and introduced a wide range of products in storage media, wireless and wired peripherals, accessories and digital lifestyle products. After the launch of Evo TV on June 2012 Amkette was hopeful for a major success in digital lifestyle segment. Evo TV, a connected TV device, allowed consumers to use smart apps on their television sets and was a cost effective substitute to Smart TVs. Amkette was betting very high on Evo TV for revenue generation and market development.