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  • The Electric Car Policy is Extended by Delhi CM Atishi Until March 31, 2025

    Following a cabinet meeting, Delhi Chief Minister Atishi on November 28 announced an extension of the Delhi Electric Vehicle (EV) Policy till March 31, 2025. The Delhi cabinet has agreed to prolong the EV policy and execute subsidies and road tax exemptions that have been languishing since January 1 due to poor air quality, Atishi said at a press briefing.

    Electric vehicles (EVs) have not been eligible for any road tax exemptions or subsidies for the last ten months. However, she stated that EV owners will be eligible for subsidies beginning on January 1, 2024. Furthermore, EV purchases will no longer be subject to road tax. The CM further stated that the EV program has been extended till March 31, 2025.

    Focus of Delhi EV Policy

    The Delhi EV strategy is noteworthy since it aims to have 25% of all new car registrations in the state be EVs by 2024. “12% of total registered vehicles in the region were EVs—the highest in the country and double the national average of 6%,” reported the CM in FY24.

    This comes as the Centre prepares to launch the third version of the FAME (Faster Adoption & Manufacturing of Electric Vehicles) programme shortly. HD Kumaraswamy, the federal minister for heavy industries, announced in September that the eagerly anticipated FAME-III plan would be launched in two months.

    Current Electric Vehicle Scenario in Delhi

    Electric vehicle (EV) sales in the nation’s capital have apparently been negatively impacted by the Delhi government’s notable decision to remove the road tax exemption for electric vehicles and two-wheelers earlier in September of this year. Due to the festive season sales discounts, the number of electric two-wheeler registrations in India increased by about 73% month-over-month (MoM) to surpass 1.2 lakh units in October of this year. According to Vahan data as of October 30, sales of two-wheeler EVs reached 1.4 lakh units, the highest level since March of this year, just before the Centre’s FAME-II programme came to an end.

    Current EV Vehicle Scenario in India

    The electric vehicle (EV) market in India is expanding quickly thanks to government subsidies, growing environmental awareness, and technology breakthroughs. India hopes to dramatically boost EV adoption through programmes like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, transforming its transport system in the direction of sustainability and innovation.

    India’s goal is to increase the percentage of EV sales to 30% for private automobiles, 70% for commercial vehicles, 40% for buses, and 80% for two-wheelers and three-wheelers by 2030. By 2030, there will be 80 million EVs on Indian roadways, which is an ambitious goal. Additionally, India’s ‘Make in India‘ campaign aims to produce all EVs domestically.

    Goyal Confirms Ongoing Discussions on Laptop Import Policy Changes
    Union Minister Piyush Goyal confirms that discussions on potential changes to India’s laptop import policy are ongoing, with no final decision made yet.
    StartupTalkyNitin Konde

  • As Mediation Continues, the Delhi High Court will Next Hear the Tesla Trademark Case in April 2025

    The next hearing in the continuing trademark dispute between Elon Musk’s Tesla Inc., a major electric vehicle firm, and Tesla Power, a battery company situated in Delhi NCR, has been postponed to April 2025 by the Delhi High Court (HC). According to a media outlet, the court postponed the hearing because the parties are still trying to resolve their differences through mediation at the Delhi Mediation and Conciliation Centre. At a hearing on June 4, the HC had requested that the two parties try to resolve the conflict through mediation.

    Tesla Power is Using Impugned Marks                                

    The Musk-led electric vehicle manufacturer claimed in May of this year that Tesla Power was using “impugned marks,” which included the full version of its trademark “TESLA” as well as the descriptive phrase “POWER USA.” On May 2, the Delhi High Court heard the matter for the first time. The court later that month prohibited Tesla Power from running ads that highlighted its electric vehicle line.

    Additionally, it ordered Tesla Power to respond to the accusations. Despite pledging to stop using the contested logo, the EV manufacturer claimed in a later hearing that Tesla Power was still selling EV scooters under it. Tesla Power, meanwhile, stated that it had no ambitions to manufacture or sell EVs under its own brand and that the commercials using the name and emblem were a part of its marketing partnership with e-Ashwa.

    Trademark is Creating Confusion  

    Tesla Power India was founded in 2022 and is headquartered in Gurugram, with its worldwide headquarters being in Delaware, USA. It asserts that it is a pioneer in the introduction of long-lasting, reasonably priced batteries. In April 2022, the Musk-led Tesla issued a cease-and-desist letter to the battery manufacturer, requesting that it cease trademark infringement. The EV giant used a screenshot of the article that said, “Tesla announces bringing EV scooters and charging stations to shops by 2025,” from an Indian daily in their appeal. Additionally, the corporation contended that the Tesla Power trademark was confusing customers and possibly hurting its commercial interests in the nation.

    Case has Highlighted Many Flaws of the System

    But given Tesla’s trademark registrations in India, the issue poses a crucial legal question: does TPI’s use of “Tesla” for its main battery business violate Tesla’s trademark rights? The idea of transborder reputation is crucial to this. Even if a well-known foreign brand is not officially registered in the local jurisdiction, its trademark protection is extended by transborder repute. The court’s ruling in this case may be influenced by Tesla’s portfolio of Indian trademarks, its reputation for producing electric cars worldwide, and its affiliation with cutting-edge battery technologies.

    The complex nature of trademark law in a globalised economy is brought to light by the Tesla v. TPI case. Companies that operate internationally, especially those with well-known brands, will be closely monitoring the outcome.

    Why Tesla Hasn’t Entered the Indian Market Yet?
    Tesla, despite being the world’s most valuable automaker, has not entered the Indian market yet. What could be the reasons?
    StartupTalkyKinnary Nensee

  • Paisabazaar Receives Notices From The IT Department Regarding Vendor Payments

    The Income Tax Department has sent warnings to Paisabazaar, an insurtech platform owned by PB Fintech, about a few vendor payments and the organisations connected to them. The Assistant Commissioner of Income Tax and the Deputy Director of Income Tax in Delhi sent out the notices.

    According to the company’s regulatory filing, one of the notices is issued under section 142(1) of the Income Tax Act, 1961, and the other is issued under the Prohibition of Benami Property Transactions Act, 1988. The filing further stated that the authorities have requested information and explanations about the payments made to a small number of vendors and the organisations connected to them in relation to the transactions and services they rendered to Paisabazaar.

    Paisabazaar to Provide Payment Documentations

    According to PB Fintech, the notice mainly asks Paisabazaar to submit records and information pertaining to these payments. Additionally, it stated that it will take all required actions to make its case to the relevant authorities. According to the statement, the corporation will take all required steps to present and defend its case before the appropriate body because it is a notification that requests specific information and documents. The business gave stakeholders the assurance that it is answering the notices within the authorised time frames.

    Paisabazaar was Always Under the Vigil

    Income tax authorities became aware of Paisabazaar earlier this year due to regulatory laxities and non-compliance with KYC standards. The Securities and Exchange Board of India (SEBI), a market watchdog, issued a show-cause notice to Yashish Dahiya, the former CEO and chairperson of PB Fintech, in June of this year. The $2 million investment made by PB Fintech FZ-LLC, Dubai, in November 2022 to purchase a 26.72% share in the outsourced marketing services firm YKNP Marketing Management was the subject of the show cause notice (SCN).

    Concerns over a possible violation of insider trading laws were raised by the SEBI notice. PB Fintech responded by saying that the company’s operations and finances are unaffected by this problem. The business added that it is seeking legal advice in order to respond appropriately and handle the situation in compliance with legal standards. The business recently declared that, as of October 17, 2024, its board committees would be reorganised. Chairperson and CEO Yashish Dahiya resigned, while Nilesh Bhaskar Sathe and Kitty Agarwal, both independent directors, joined the audit committee, which was presided over by Kaushik Dutta.

    PB Fintech Allots 27 Lakh Equity Shares Under ESOP Plan
    PB Fintech has allocated approximately 27 lakh equity shares under its ESOP plan, highlighting its commitment to rewarding employee contributions.
    StartupTalkyNitin Konde

  • After Gaming Business Winzo Filed a Complaint, CCI Orderes an Investigation into Google

    In response to a complaint by Winzo Games alleging unfair business practices regarding the listing of real money gaming applications on the Play Store, the Competition Commission of India (CCI) on 28 November ordered a thorough probe into Google.

     In its ruling, the CCI determined that Google had abused its dominant position and was therefore prima facie in breach of the Competition Act’s antitrust prohibitions. Additionally, within 60 days after receiving this decision, the Commission instructs the DG to finish the investigation and submit a consolidated investigative report.

    Based on a comprehensive analysis of the case’s facts and circumstances, the Commission believes that Google may be in breach of Sections 4(2)(a)(i), 4(2)(b), and 4(2)(c) of the Act, as specified in this judgement. This necessitates a thorough inquiry, the order said.

    Why Winzo Took Matters to Court?

    In its complaint, Winzo Games, the case’s informant, claimed that Google both prevents its game from being published on the Play Store and shows malware alerts to users who try to download it from the website. Winzo said that these cautions damage its brand and deter prospective customers from using its service.

     In 2022, Winzo launched a lawsuit against the Play Store when Google modified its gaming guidelines. Google began permitting rummy and daily fantasy games on the Play Store in 2022, but many skill-based gaming sites were left out. In its ruling, the antitrust watchdog pointed out that Google’s alleged preferential treatment of online casual gaming platforms like Zupee and MPL raises questions about possible discriminatory practices or selective enforcement of Google’s policies, which is against Section 4(2)(a)(i) of the Act.

    According to CCI, any unjust limitations Google places on advertisers are probably going to have anti-competitive effects and hurt their capacity to compete in the market.

     In response to the accusations, Google told CCI that its ads policy is transparent and consistently applied. In its statement to CCI, Google stated that it had no business incentive in rejecting ad revenue needlessly and that its strategy reflects both its choice to reduce legal risk and its duty to abide by the law.

    Google is Not Providing Valid Justification

    In its complaint, Winzo also claimed that Google had not offered a convincing explanation for limiting the number of RMG (real money gaming) apps to only two categories and that its responses to this claim had been inconsistent, unsupported, and predicated on conjecture and unconfirmed market data.

    The Play Store is considered a “must-have” platform for app developers because it comes pre-installed on all Android devices. According to the Commission, excluding non-DFS and non-Rummy RMG apps from the Play Store is equivalent to denying them access to the market. 

    According to CCI, Google essentially establishes a two-tier market by giving preferential treatment to specific app categories, giving some developers better access and visibility while discriminating against and putting others at a competitive disadvantage. While directing a thorough inquiry, the fair trade regulator stated that nothing in the decision would amount to a final judgement on the case’s merits. The DG will carry out the probe “without being influenced in any way whatsoever by the observations made herein,” it stated. 

    WinZo Games co-founder Saumya Singh Rathore stated in a statement following the CCI order that the order is a step in the right direction towards re-establishing equity in the digital economy. A strong industry depends on competition and innovation, both of which are suppressed by monopolistic methods. This choice is an important step towards guaranteeing fair chances for all participants, encouraging creativity, and establishing a level playing field that is advantageous to companies and customers alike.

    CCI Approves Temasek’s Stake Acquisition in Rebel Foods
    Temasek Holdings receives CCI approval to acquire a stake in Rebel Foods, paving the way for strategic investment in the cloud kitchen leader.
    StartupTalkyNitin Konde

  • Policy Changes Regarding the Import of Laptops are Still Being Discussed: Goyal

    Union Minister Piyush Goyal stated on 28 November that the Ministry of Electronics and Information Technology is still considering new rules for India’s laptop import policy. “I think this is still under deliberation,” Goyal responded when asked about the import authorisation mechanism for IT hardware products and the types of regulations the government is considering. The Ministry of Electronics and Information Technology is in charge of it. “I have no idea what they are thinking about in the future,” he added further.

     In September of this year, the government prolonged the permission process for the import of specific IT hardware goods, such as laptops and tablets, for a period of three months, ending on December 31.

    Importers Need to Apply for Fresh Registration from 1st January  

    In 2023–2024, these imports totalled $8.4 billion, compared to the approximately $9.5 billion authorised. China was the primary source of these imports.

    Specifically, importers are permitted to apply for import authorisations, which will remain in effect until December 31, 2024. Additionally, the Directorate General of Foreign Trade (DGFT) had stated in a policy circular in September that the current import authorisations granted until September 30, 2024, would be valid until December 31, 2024.

    With effect from January 1, 2025, importers will have to apply for new authorisations, “subject to detailed guidance to be provided shortly.” Goyal also commended Masayoshi Son, the CEO of Japan’s SoftBank Group, who visited portfolio company founders while on a stopover in Delhi on November 27, 2024. 

    “Regarding Masayoshi Son, I applaud his news that he will be increasing investments in India.” The Commerce and Industry Minister stated, “India is undoubtedly a country where people have made good returns.” “He was a very daring investor who believed in Prime Minister Narendra Modi and the India story. I had a lot of interaction with him when I was the Power and Renewable Energy Minister,” Goyal added.

    India has Become Preferred Destination for Investors

    The minister claimed that India has attracted international attention and that foreign companies are eager to invest in this country. Regarding the billionaire founder of Japan’s SoftBank Group, the minister stated, “Everywhere we go, there is a huge interest and investment appetite to come and invest in India, and we would warmly welcome Son to continue looking at India and the possibilities of investment in India.”

    The minister added that despite geopolitical difficulties brought on by the Red Sea crisis and back-to-back wars, he anticipates that India’s exports of goods and services will exceed $800 billion in the current fiscal year 2025.

    “In some ways, despite inheriting such a weak economy, India anticipates surpassing 800 billion dollars in exports for the first time in its history in 2024–2025. The Indian currency is also one of the best performing among all emerging markets and is not depreciating. “India has doubled its exports during Prime Minister Modi’s tenure despite two years of COVID, two international wars, and the Red Sea crisis,” Goyal stated.

    Atal Innovation Mission Gets Cabinet Nod for Continuation
    The Cabinet has approved the continuation of the Atal Innovation Mission, reaffirming support for fostering innovation and entrepreneurship in India.
    StartupTalkyNitin Konde

  • EaseMyTrip Introduces a Full-Featured corporate Travel Platform EMT Desk

    Easemytrip, an online travel aggregator, has launched a platform that gives companies a comprehensive way to handle their business travel requirements. EMT Desk seeks to simplify the experience for companies seeking to increase employee travel happiness and reduce travel expenses by combining strategic oversight, employee-friendly benefits, and real-time travel management, the company stated in a filing. 

     A dedicated travel manager for every corporate account, an admin panel for managing expenses, and a three-level approval matrix that is controlled via WhatsApp and email are just a few of the platform’s essential features.

    EMT Desk Includes Advanced Tools For Hassle Free Booking Experience

    Advanced features like chatbot support, CO2 emission reporting, and Power BI analytics are all included in EMT Desk. According to Rikant Pittie, creator of EaseMyTrip, the firm is bridging the gap between online convenience and strategic corporate travel demands with EMT Desk, giving businesses the tools they need to plan, manage, and enhance their travel experiences in a way that is intelligent, stable, and seamless. This development occurs at a time when EaseMyTrip has been expanding its business through acquisitions, partnerships, and the establishment of new subsidiaries.

    For example, the startup and Hyperface collaborated to improve current card programmes and introduce new co-branded credit card programmes in November alone in an effort to increase consumer involvement. Additionally, through an equity share swap valued at INR 39.20 Cr, it obtained a 49% ownership in Planet Education Australia, a provider of study abroad consultancy services. In September, the company launched a marketplace called ScanMyTrip.com to provide travel services on the Open Network for Digital Commerce (ONDC) and established a wholly owned subsidiary named Easy Green Mobility to enter the electric bus manufacturing sector.

    Financial Performance of EaseMyTrip

    Two months ago, the board approved Easy Trip Planners, the parent company of EaseMyTrip, to purchase a 49% stake in Pflege Home Healthcare Centre LLC for INR 30 Cr ($3.5 Mn) and a 30% investment in Rollins International Private Limited for INR 60 Cr ($7.15 Mn). In the second quarter of the fiscal year 2024–25 (FY25), EaseMyTrip reported a 42.8% decrease in its consolidated profit after tax (PAT) from INR 46.9 Cr to INR 26.8 Cr. The company’s operating revenue, on the other hand, increased by a meagre 2.1% to INR 144.6 Cr in Q2 FY25 from INR 141.6 Cr the year before, but otherwise stayed essentially unchanged.

    In 2023, EaseMyTrip made its debut in the business travel market with carefully chosen programmes that included volume savings, personalised pricing, and loyalty benefits. The segment helped organisations manage spending, guarantee compliance, and find savings by using powerful analytics and dedicated account managers through a global network of partners.

    Hyperpure by Zomato Introduces Quick Delivery for B2B Clients
    Hyperpure, Zomato’s B2B vertical, now offers quick delivery services, enhancing supply chain efficiency for restaurant partners and businesses.
    StartupTalkyNitin Konde

  • Uber introduces its “Uber One” loyalty plan in India

    Uber has made a big step to increase customer loyalty in India’s fiercely competitive ride-hailing sector by launching its global subscription programme, Uber One. According to media sources, the programme, which now has over 25 million subscribers worldwide, offers a variety of incentives aimed at luring regular users.

    According to sources, Uber One is offered at three tiers to accommodate different spending limits and usage habits. While quarterly and yearly plans cost INR 349 and INR 1,499, respectively, monthly memberships cost INR 149. These price options provide users affordability and flexibility, making Uber One a desirable alternative for frequent commuters.

    Perks of Being a Member

    Consumers can receive up to 10% in credits for their rides, which can be used for all of Uber‘s services, including two-, three-, and four-wheelers. One can use these credits on rides in the future. Customer service will be given priority to Uber One members. Additionally, Uber One subscribers will have access to the best drivers for available journeys.

    Compared to non-members, Uber One members spend three times as much. Additionally, member retention rates are higher. And with 25 million members, increasing 70% year over year, one can see the momentum in that area of the business as well, according to Uber CEO Dara Khosrowshahi.

    The introduction of Uber One coincides at a pivotal moment for Uber in India, as the ride-hailing giant is increasingly up against competition from more recent platforms such as Rapido, which has been rapidly growing its offerings, including entering the four-wheeler market. The membership is a desirable choice for people who regularly use ride-hailing and meal delivery services because it also comes with extra benefits, including a free three-month subscription to Zomato Gold.

    Strict Cancellation Guidelines

    Cancellation of membership is only allowed for annual subscribers. All related advantages, including Uber Credits, are promptly forfeited upon cancellation. Uber also introduced a number of new app features earlier this month that are intended to increase driver convenience and safety. Permitting female drivers to choose the gender of their passengers, permitting audio recording via the app, providing options for upfront tipping, and providing fast cash-out for earnings are some of the major enhancements.

    If a driver is uncomfortable or worried about their safety, the cab aggregator also enables them to record audio while driving. Drivers cannot access these recordings since they are safely encrypted. Uber claims that only in the event that the driver submits a safety report will the recordings be examined. The business has made it clear that after 15 days, all audio files will be automatically removed from their system.

    Telangana Gig Workers Demand State-Owned Ride-Hailing Platform
    The gig workers’ union in Telangana is urging the government to launch a state-run ride-hailing service to ensure fair pay and improved working conditions.
    StartupTalkyNitin Konde

  • Hyperpure, Zomato’s B2B Vertical, Offers Quick Delivery

    Hyperpure, Zomato’s B2B supply division, has introduced the “Express” delivery service in response to the growing demand for speedy deliveries. The express delivery service will be accessible from 8 AM to 4 PM, according to the Hyperpure app. It will cost INR 99 and be available with Hyperpure’s regular next-day delivery. The products supplied at a premium price in comparison to the normal delivery option will be delivered within 30 minutes to 4 hours via the express service. 

    In the HoReCa (hotels, restaurants, and caterers) industry, the Hyperpure vertical provides goods to restaurants and other business-to-business purchasers. Fresh goods, fruits and vegetables, poultry, meat and seafood, and gourmet meals are some of the products it offers. It also offers complete supply chain, warehousing, and procurement services for restaurants, as well as end-to-end fourth-party logistics for restaurants. 

    Hyperpure has the Potential to Become as Big as Zomato

    Since Hyperpure is Zomato‘s sole business-to-business vertical, the company has been optimistic about it. The business stated in 2022 that Hyperpure might reach the size of its food delivery vertical because the addressable market here might be bigger than food delivery. Zomato said earlier this year that it is establishing a facility for Hyperpure to process value-added food supplies, such as spreads, sauces, and pre-cut and semi-finished perishable goods.

    Notably, Hyperpure’s sales in Q2 FY25 doubled from INR 745 Cr in Q2 FY24 to INR 1,473 Cr. It really made more money than Blinkit. In the September quarter of FY25, the fast commerce sector reported revenue of INR 1,156 Cr, more than double the INR 505 Cr recorded in the same period the previous year.

    Rapidly Expanding Quick Commerce Sector in India

    In recent years, the fast commerce market has grown significantly. The industry is now more competitive as a result of this. PhonePe‘s Pincode is the newest player in the fast delivery market, which is dominated by companies like Blinkit, Zepto, and Swiggy Instamart, according to a media report. Additionally, the most recent development follows Zomato’s INR 8,500 Cr qualified institutional placement (QIP) opening. For the QIP, the business has established a floor price of INR 265.91 per share, and it may give a discount of up to 5%.

    Myntra, a fashion portal owned by Flipkart, is testing M-Now, a speedy delivery service that offers delivery in specific Bengaluru pin codes in as little as 30 minutes to two hours.In a similar vein, FirstCry, a retailer of mother and newborn care supplies, announced during an earnings call on November 14 that it has made same-day delivery possible in roughly 40 Indian locations. In Borivali, Mumbai, Nykaa has also started a 10-minute delivery test. Even the cutting-edge logistics startup Delhivery intends to launch an intracity third-party quick commerce logistics service, providing brands with shared warehouses from which the Gurgaon-based business would send goods in a timeframe of one to two hours.

    CCI Approves Alphabet’s Stake Purchase in Walmart’s Flipkart
    CCI authorizes Alphabet’s stake purchase in Flipkart, a Walmart subsidiary, marking a significant investment in India’s e-commerce sector.
    StartupTalkyNitin Konde

  • Honda Forays into the EV Two-Wheeler Market with Activa e and QC1 Models

    According to data from market intelligence platform Redseer, sales of electric vehicles (EVs) are expected to reach 22 million units by 2030, having grown rapidly from 0.8 million units in 2023.

    In order to target this segment, on 27 November, Honda Motorcycle & Scooter India (HMSI) unveiled the Activa e, an electric variant of its well-known Activa scooter, and the QC1, a second model, marking the company’s official entry into the Indian EV two-wheeler market.

    Honda Activa e Specifications

    An internal permanent magnet synchronous electric motor with a peak output of 6 kW and a torque of 22 Nm powers the new Honda Activa e. According to Honda, it can reach a high speed of 80 km/h and sprint from 0 to 60 km/h in 7.3 seconds. There are three riding modes available for the Activa e: Econ, Standard, and Sport.

    The two interchangeable Honda Mobile Power Pack e-batteries, created and managed by Honda Power Pack Energy India Pvt. Ltd., are the main attraction. According to Honda, both have a 1.5 kWh capacity and a 102 km range on a full charge. There are two versions of the Activa e: the Activa e and the Activa e: Honda RoadSync Duo. The latter has a 7.0-inch TFT screen and can link to the Honda RoadSync Duo app in real time.

    In addition to having day and night settings that automatically adjust the screen’s brightness and readability based on ambient light, the infotainment system offers navigation. Toggle switches on the handlebar are used to control the TFT screen. All-LED lighting with “smiling” DRLs, a 12-inch diamond-cut alloy wheel, a level footboard, a strong grab rail, and a dual-tone seat are standard on both models.

    Additionally, it comes with Honda’s H-Smart key, which has functions like Smart Start, Smart Safe, Smart Unlock, and Smart Find. Pearl Shallow Blue, Pearl Misty White, Pearl Serenity Blue, Matt Foggy Silver Metallic, and Pearl Igneous Black are the five colours that will be available for the scooter.

    Honda QC1 Specifications

    In contrast, the Honda QC1 will have a single, fixed 1.5 kWh battery pack that has an 80 km range. It takes 4 hours and 30 minutes to charge from 0% to 80%, and 6 hours and 50 minutes to fully charge. An in-wheel electric motor with a maximum torque of 77 Nm and a peak power rating of 1.8 kW is fitted to the QC1. This translates to a top speed of fifty kilometres per hour. Standard and Econ are its two riding modes, which modify power and efficiency according to the rider’s preferences.

    A 330-watt off-board home charger with auto-cut technology for safety can be used to charge it at home. Additionally, it only has a 5.0-inch all-info LCD screen, as opposed to the TFT screen in the Activa e. In addition to 26 litres of under-seat storage, the QCI will have a USB Type-C plug.

    Honda’s Narsapura factory in Karnataka, close to Bengaluru, will produce the Activa e and QC1. They will include three complimentary services for the first year and a three-year or 50,000-kilometer guarantee. For the first year, Honda will also provide complimentary roadside assistance.

    The Revolutionary Swappable Battery Technology from Honda

    There will be dedicated Honda Power Pack Exchanger e (swapping stations) spread around different cities where the Activa e’s swappable batteries can be swapped. According to Honda, this is already operational in Delhi and Bengaluru and will shortly begin operations in Mumbai as well.

    According to Yogesh Mathur, Director, Sales and Marketing, Honda Motorcycle & Scooter India, the organisation is working to satisfy the wide range of demands of its clients with ACTIVA e’s swappable battery technology and QC1’s fixed battery setup in addition to the industry-leading hassle-free ownership experience.

    Ola Electric Ventures Into Gig Market with E-Scooter Under INR 40K
    Ola Electric enters the gig market with plans to launch an affordable e-scooter priced under INR 40,000, aiming to support gig workers and expand EV adoption.
    StartupTalkyNitin Konde

  • Awfis Discloses a Senior Executive’s Insider Trading Violation

    Awfis, a coworking space provider, stated that one of its executives had broken insider trading regulations. Anandita Seal Sarkar, Awfis’s vice president of sales, sold 15,764 firm shares with previous approval, but on the same day, she bought 25 shares without the compliance officer’s prior consent, according to an exchange filing. On September 30, the 25 shares were purchased for INR 698.44 each, for a total of INR 17,461, whereas the shares were sold for INR 693.02 each, for a total of INR 1.07 lakh. According to the corporation, this violated the 2015 Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations code of conduct.

    How Issue Got Highlighted?

    According to Awfis, the problem was found on November 26 during a normal examination and was sent right away to its audit committee. At this point, the panel will make a decision. Both the board chairman and the chairman of the audit committee have been informed of the situation. In accordance with the code of conduct’s obligations, the audit committee will take any appropriate measures, according to the document. Notably, this is not the first instance in which a listed startup’s leadership has been in hot water for violating insider trading regulations.

    Honasa Consumer, the parent company of Mamaearth, told the stock exchanges last year that a senior official of the firm had violated insider trading regulations by trading shares for INR 15 lakhs without the company secretary’s or compliance officer’s prior consent. Awfis shares were launched on the BSE in May of this year at INR 432.25 each, which was 12.8% more than the company’s issue price of INR 383. Profitable figures and a positive outlook have since propelled the stock upward.

    Financial Dynamics of Awfis

    For the second quarter of FY25, Awfis Space Solutions recorded operating revenue of INR 292.38 crore, up 40.46% from INR 208.15 crore in the same period last year. In the July–September quarter, the co-working space provider reported a net profit of INR 38.67 crore, up from a loss of INR 4.34 crore in the second quarter of FY24. As the business grew to meet demand, increasing subcontracting, labour, and operating costs drove a 30.85% YoY increase in total expenses to INR 287.29 crore. Employee expenditures jumped 16.75% to INR 39.38 crore, while subcontracting expenses, which are linked to its profit-sharing model, increased 30.80% YoY to INR 56.13 crore.

    Additionally, operating expenses increased 30.41% year over year to INR 87.01 crore. With a 43% quarter-over-quarter rise, the core business segment—renting co-working spaces and associated services—generated INR 218.31 crore, or roughly three-fourths of revenue. At INR 68.15 crore, revenue from fit-out and construction projects increased by 36.3% as well.

    UPI Fraud Totals INR 485 Crore Across 6.3 Lakh Cases in FY25
    In FY25, 6.3 lakh UPI fraud cases have been reported, leading to financial losses of INR 485 crore, highlighting growing concerns over digital payments security.
    StartupTalkyNitin Konde