3 directors, paid-up capital of ₹1 lakh: What we know about Tesla in India
Tesla India Motors and Energy Private Limited was incorporated in Bengaluru on January 8.
By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON JAN 13, 2021 11:03 AM IST
Tesla has entered the Indian market by registering its subsidiary in Bengaluru which makes its much-speculated entry in India official. The development is not sudden as Union minister for road transport and highways Nitin Gadkari in December confirmed that Tesla would be coming to India in early 2021. Tesla CEO Elon Musk, who enjoyed a short stint as the world richest person as he fell back to the second place on Monday, had said in October that the process to bring Tesla cars to India would begin in January 2021.
Also Read: Elon Musk's Tesla registers unit in India
Here is what we know so far
> According to reports, Tesla India Motors and Energy Private Limited was incorporated in Bengaluru on January 8.
> The company has been incorporated as a subsidiary of foreign company.
> Three directors have been listed: Vaibhav Taneja, Venkatarangan Sreeram and David Jon Feinstein.
> It has been registered as an unlisted private entity with a paid-up capital of ₹1 lakh. Its authorised share capital is ₹15 lakh.
> The registered office is at Lavelle Road, Bengaluru.
> Speculations are rife about Tesla's India operation. It may launch its fully electric Model 3 Sedan in India, to be priced at ₹60 lakh, reports indicated.
> Initially, it will start with sales. Assembly, manufacturing will be taken up at a later phase.
> According to reports, the company is in talks with other state governments too as it is looking for local partners.
> It's not yet known what Tesla's Bengaluru unit will do. This can be a research and development unit.
India’s trade deficit at 25-month high in Dec
By HT Correspondent | Livemint
UPDATED ON JAN 16, 2021 12:32 AM IST
India’s merchandise trade had been weakening even before the pandemic hit the economy and external demand. Since March 2020, both exports and imports started declining in high double digits, even temporarily leading to a trade surplus in June for the first time in 18 years.
How to check income tax refund status online. Read here
By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 15, 2021 11:37 PM IST
- Income tax refund (ITR) status can be checked on the National Securities Depository Limited (NSDL) website as well as on the income tax department’s e-filing site.
US industrial production jumps 1.6 per cent in December
AP
UPDATED ON JAN 15, 2021 11:19 PM IST
The December gain in industrial output followed a 0.5per cent increase in November and a 1 per cent increase in October, the Federal Reserve reported Friday.
Signal sees global outage, company says 'working hard to restore service'
Written by Meenakshi Ray
UPDATED ON JAN 15, 2021 11:18 PM IST
Site status tracker DownDetector showed there were 2,167 reports about the issue as users reported they could open the app and send messages but were being delivered later.
Messaging app Signal experiencing technical difficulties
Reuters
UPDATED ON JAN 15, 2021 10:48 PM IST
Signal has seen a rise in downloads following a controversial change in rival messaging app WhatsApp's privacy terms, which required WhatsApp users to share their data with both Facebook Inc and Instagram
Bengaluru emerges as world’s fastest growing tech hub, London second: Report
PTI, London
PUBLISHED ON JAN 15, 2021 10:37 PM IST
The UK capital of London registered an impressive three times growth between 2016 and 2020, rising from USD 3.5 billion to USD 10.5 billion.
SC asks Govt's, 61 firms' reply on PIL alleging duty evasion in iron ore exports
PTI, New Delhi
PUBLISHED ON JAN 15, 2021 09:39 PM IST
A bench headed by Chief Justice S A Bobde took note of submissions of lawyer and PIL petitioner ML Sharma that companies be prosecuted for alleged evasion of export duty by declaring wrong tariff code to export iron ore.
PVR reports net loss of ₹49 crore in Q3
PTI, New Delhi
PUBLISHED ON JAN 15, 2021 09:03 PM IST
Revenue from operations during the period under review stood at ₹45.10 crore, down 95.04 per cent from ₹915.74 crore in the corresponding quarter a year ago.
DGCA issues guidelines on carrying cargo in passenger compartment of aircraft
PTI, New Delhi
UPDATED ON JAN 15, 2021 07:44 PM IST
"Operator intending to carry cargo in passenger compartment shall apply to DGCA at least 10 days prior to the proposed commencement of operations," the regulator said in its guidelines.
Stuck in Kent: How Brexit red tape strangled cross-border trade
Bloomberg
UPDATED ON JAN 15, 2021 07:30 PM IST
Britain’s logistics industry had warned that businesses would need to hire an additional 50,000 workers to process the 200 million extra customs forms that will be required annually after Brexit.
UK prepares for another recessions as lockdowns cripple economy
AP, London
PUBLISHED ON JAN 15, 2021 07:09 PM IST
- Because of the November fall, the economy is set to contract again in the fourth quarter.
Banks in Europe yet to fully feel pandemic’s impact, warns ECB
Bloomberg
PUBLISHED ON JAN 15, 2021 04:19 PM IST
A key challenge is that companies propped up by government support measures in 2020 could find themselves in vulnerable financial positions as those programs are withdrawn.
RBI drains ₹2 trillion in a bid to nudge shorter rates higher
Bloomberg
PUBLISHED ON JAN 15, 2021 04:08 PM IST
The RBI is draining excess cash after money-market rates crashed way below its 3.35%-4.00% interest-rate corridor late last year, spurring calls from investors for it to remedy a situation that could distort banks’ asset pricing.
GAIL announces ₹1,046.35 crore share buyback
PTI, New Delhi
PUBLISHED ON JAN 15, 2021 03:25 PM IST
The government has asked at least eight state-run companies to consider share buybacks as it scours for ways of raising funds to rein in its fiscal deficit.
UK economy pushed into reverse by November lockdown
Reuters
PUBLISHED ON JAN 15, 2021 03:03 PM IST
The 2.6% monthly decline was much smaller than most analysts expected - a Reuters poll had pointed to a 5.7% contraction - but several economists said Britain was still likely to suffer a double-dip recession.