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Maharashtra govt issues notice to Ola Electric over missing trade certificates

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Pune, April 4: The Maharashtra government has issued a notice to Ola Electric Mobility Limited, asking the company to explain why some of its stores in the state are operating without valid trade certificates.

According to the notice from the Transport Commissioner’s Office, several Ola Electric showrooms and service centres in Maharashtra are being run without the required documents.

The notice also accuses the company of illegally selling vehicles through these unauthorised outlets.

According to media report, the notice, dated March 31, gives the company three days to respond.

“This is a very serious matter, and you are requested to provide an explanation within three days as to why action should not be taken against your company for this act,” the notice said.

It was reportedly signed by Joint Transport Commissioner Ravi Gaikwad. However, as of now, Ola Electric has not responded officially on the issue.

The notice follows an earlier inspection drive initiated by the state transport authority.

On March 21, NDTV Profit had reported that Maharashtra’s Transport Commissioner had instructed all Regional Transport Offices (RTOs) to carry out special checks at Ola Electric stores.

These inspections reportedly revealed that many outlets were functioning without the necessary trade certificates.

As per the Central Motor Vehicles Act, 1988, and the Central Motor Vehicle Rules, 1989, every vehicle distributor or manufacturer must obtain a trade certificate to register and sell vehicles.

In addition, Rule 35 of the same law states that each showroom or dealership must have a separate certificate from the concerned registration authority.

The shares of the electric two-wheeler manufacturer closed lower by Rs 1.42 or 2.63 per cent to close the intra-day trade at Rs 52.62 on the National Stock Exchange (NSE).

Earlier this week, the company saw a sharp drop in its electric two-wheeler sales in March 2025, selling 23,430 units — a steep 56 per cent decline compared to the same month last year.

The company said on April 1 that the fall was mainly due to disruptions caused by its recent shift to handling vehicle registrations in-house, a process that began in February.

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Tesla rolls out Halloween Mode for ‘Model Y’ in India

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Tesla India on Friday said it launched a new software update for Model Y and Model Y L vehicles that adds a range of Halloween-themed features, highlighting the company’s over-the-air (OTA) software update capabilities.

According to the Elon Musk-backed firm, the update allows Tesla vehicles to receive new features and improvements remotely without requiring a visit to a service centre.

Halloween Mode includes a ghost-themed vehicle avatar, Halloween sound effects, special lighting sequences, seasonal vehicle wraps and a themed lock sound, it said.

The update also introduces a ‘Trick or Treat Mode’ which activates sound and lighting effects when visitors approach the vehicle.

Other features include a photobooth function and a voice messaging feature that allows users to speak through the Tesla app and have the vehicle relay messages, the company said.

Tesla said customers can experience the new features at its Experience Centres across India.

The company currently operates those centres in Noida, Delhi, Gurugram, Chennai, Hyderabad, Bengaluru and Mumbai and has approved collision centres in Pune and Ahmedabad.

Earlier in October, Tesla CEO Elon Musk showcased a new version of the Roadster sports car with a prototype briefly lifting off the ground during a demonstration at a SpaceX facility in Texas.

A post on X shared by Musk showed the vehicle navigating an elevated curved track before becoming airborne for a short distance and landing safely, drawing comparisons to a flying car.

The showcase highlighted a specialised propulsion system that combines the electric vehicle platform with high-pressure air tanks and thruster technology.

According to Tesla, the system can generate lift and improve vehicle dynamics through strategically placed thrusters that help control movement while off the ground.

The test prompted enthusiastic reactions from company executives, who described it as evidence that flying-car technology is moving closer to reality. Tesla, however, did not provide a timeline for commercial deployment.

Musk said the vehicle would remain practical for everyday use, although he acknowledged that road legality could depend on local regulations.

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Maha CM directs development of state-of-the-art digital platforms for aggregator companies

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Maharashtra Chief Minister Devendra Fadnavis on Thursday directed the transport department to build a state-of-the-art digital platform to provide real-time information on aggregator companies’ vehicles, drivers, and working hours, aiming to make app-based passenger transport services in the state safer, more transparent, and well-organised.

He instructed that this platform should integrate Artificial Intelligence (AI)-based analytics to maintain effective control over vehicle operations, driver dispatch, parking management, and passenger services.

CM Fadnavis gave these instructions during a meeting concerning the Maharashtra Aggregator Rules-2026. The review covered the growing number of vehicles in the aggregator sector, the challenges faced by independent taxi drivers, passenger safety, and transparency in ride allocation on digital platforms. Transport Minister Pratap Sarnaik, Additional Chief Secretary (Transport) Sanjay Sethi, Transport Commissioner Rajesh Narvekar, and other transport department officials were present.

The Chief Minister directed that complete digital details must be available for every vehicle operated by aggregator companies. This includes registration, assigned parking locations, driver profile, driving license, police verification, and other required documents.

Additionally, the system must maintain real-time logs indicating which driver is operating which vehicle across various shifts throughout the day. In the event of an incident, a robust mechanism should ensure that details regarding the vehicle and driver are immediately accessible.

By leveraging artificial intelligence on this platform, the system will analyse vehicle operations, driver shifts, and other critical parameters. This will allow regulatory authorities to monitor compliance with rules and enable prompt action whenever necessary, he said.

CM Fadnavis highlighted the need to verify whether independent taxi drivers and large fleet management companies receive equal opportunities when rides are allocated on app-based transport platforms.

He noted that it is essential to audit the criteria and reasons based on which specific vehicles are assigned rides on digital platforms. He directed officials to utilise technology to detect any bias or unfair discrimination in ride allocation algorithms.

The Chief Minister stressed that while passengers must receive safe and reliable service, local drivers must also get equal employment opportunities.

To achieve this, priority must be given to effective enforcement of rules, transparent ride allocation, and technical oversight of aggregator operations.

In light of the expansion of the state’s aggregator sector and growing passenger needs, he directed the Transport Department to develop an efficient, technology-driven regulatory framework that balances the interests of independent taxi drivers, passenger safety, and overall traffic discipline.

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Nifty, Sensex post early mild gains despite mixed global cues

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The Indian equity markets opened with mild gains early on Thursday despite mixed global cues and elevated crude prices.

As of 9.25 am, Sensex added 168 points, or 0.23 per cent, to reach 73,414 and Nifty gained 45 points, or 0.20 per cent, to reach 22,744.

Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 gained 0.25 per cent, and the Nifty Smallcap 100 added 0.13 per cent.

Sectoral indices on NSE traded mixed with gains led by Nifty IT, up 0.80 per cent and pharma, up 0.30 per cent. Nifty private bank and media were among top losers, down 0.18 per cent and 0.16 per cent, respectively.

The opening gain of benchmarks may remain selective unless the Nifty decisively crosses 22,800, as the Federal Reserve’s policy message, elevated crude and high US bond yields continue to restrict broader risk-taking, an analyst said.

Brent crude remains elevated near $114.50 a barrel amid persistent geopolitical uncertainty, keeping energy costs high and leaving oil-sensitive sectors exposed to sustained cost pressures.

The Federal Reserve kept its policy rate unchanged, but two members voted for an increase, and markets raised expectations of another hike in December. The US 10-year Treasury yield consequently moved to around 5.02 per cent, indicating that the policy pause has not materially loosened global financial conditions.

Unless yields stabilise below recent levels, dollar assets may continue competing with emerging markets for capital and limit the durability of foreign inflows into India, market participants said.

In the previous session, Nifty closed at 22,698, down 0.22 per cent, after a recovery was capped by profit booking. Immediate support is placed at 22,600–22,650, while resistance is seen at 22,850–22,900.

In the previous session, Bank Nifty closed at 54,267, up 0.54 per cent. Immediate support is placed at 53,800–54,000, while resistance is seen at 54,600–54,800.

In Asian markets, China’s Shanghai index declined 0.82 per cent, and Shenzhen dipped 2.48 per cent, Japan’s Nikkei added 0.28 per cent, and Hong Kong’s Hang Seng Index advanced 0.06 per cent. South Korea’s Kospi lost 2.72 per cent.

The US markets ended in green overnight as Nasdaq added 0.27 per cent, S&P 500 gained 0.28 per cent, and the Dow Jones inched up 0.19 per cent.

On October 28, foreign institutional investors (FIIs) net bought equities worth Rs 872 crore, while domestic institutional investors (DIIs) bought equities worth Rs 643 crore.

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