Ministry of Coal reports Record-Breaking Production (See 'Corp Brief') PTC Saharanpur not just an Institution but a Living Legacy of Service: Scindia (See 'Corp Brief') IPR - Failure of party to file opposition to registration of trademark u/s 21 of Trade Marks Act, does not disentitle such genuinely aggrieved party from subsequently seeking revocation, cancellation, or rectification of said trademark: HC (See 'Legal Desk') Geological Survey of India concludes Field Season in Mineral Exploration (See 'Corp Brief') IndiaAI and CDSCO launch Health Innovation Acceleration Hackathon (See 'Corp Brief') West Asia crisis: Customs duty exemption granted to petrochemical products (See 'Corp Brief') PC Act - If other materials on record are creditworthy and reliable, there would be no bar on relying on same for arriving at conclusion regarding guilt of accused: HC (See 'Legal Desk') Chouhan launches landmark Initiative to Unite Policy, Science, and Field Experience on One Platform (See 'Corp Brief') BCGCL and MCL sign Landmark Land Leasing Agreement for Coal to Ammonium Nitrate Project (See 'Corp Brief') IPR - Plaintiff's failure to conclusively establish its exclusive proprietorship over trademarks, coupled with evidence of joint ownership & authorization letter produced by Defendant, meant that matter required full trial: HC (See 'Legal Desk') Railways sets New Record in Passenger Traffic as well as Cargo Transport (See 'Corp Brief') NHAI achieves Robust Growth in NH Development During FY 2025-26 (See 'Corp Brief') PMLA - If specific property was inadvertently omitted in impugned order, case must be remanded back to Adjudicating Authority for limited purpose of passing specific order: SAFEMA (See 'Legal Desk') Nyaya Setu AI Chatbot and Mascot 'DISHIKA' unveiled at DISHA Programme (See 'Corp Brief') Misc - Recipient of concession has no legally enforceable right against Government to grant of concession except to enjoy benefits of concession during period of its grant: SC (See 'Legal Desk') After Signing reformed linked MoU, 5 States got funds under Jal Jeevan Mission 2.0 (See 'Corp Brief') India's largest collaborative Capacity Building Initiative Begins on 2nd April (See 'Corp Brief') IPR - Section 19 of Trade Marks Act, does not permit any third party to make application before Registrar for withdrawal of acceptance of trademark application: HC (See 'Legal Desk') MSME Ministry organizes Entrepreneur Awareness Camp in Dimapur (See 'Corp Brief') Govt and RBI Measures ensure Seamless Rural Credit Flow (See 'Corp Brief') DGCA signs MoU with Gati Shakti Vishwavidyalaya to train youth (See 'Corp Brief') Record 30 Mineral Blocks operationalised in FY 2025-26 (See 'Corp Brief') IPR - No infringement action will lie at instance of one registered proprietor of trade mark against another registered proprietor, seeking injunction against use, by latter, in class in which it is registered: HC (See 'Legal Desk') NCL achieves 140 MT Coal Production Target Ahead of Schedule (See 'Corp Brief') Jan Dhan Darshak App enables GIS-based monitoring of banking infrastructure (See 'Corp Brief') Gati Shakti Vishwavidyalaya & DGCA sign MoU to Revamp Aircraft Maintenance & Create Jobs (See 'Corp Brief') Benami Act - registration of title, payment of stamp duty, deposit of TDS, and routing of payments through banking channels do not negate benami nature of transaction if source of funds originates from another person: SAFEMA (See 'Legal Desk') Goyal meets UK Secretary of State for Business and Trade (See 'Corp Brief') Access Control & AI-Enabled CCTV Systems to streamline Passenger Flow at Railway stations (See 'Corp Brief') IPR - Order passed by Controller of Patents, which lacks independent analysis and is verbatim reproduction of submissions of one party or recommendations of Opposition Board, is procedurally flawed: HC (See 'Legal Desk') Gut Microbiota and Probiotic Science Foundation organises 16th India Probiotic Symposium (See 'Corp Brief') IPR - Overall appearance at first impression is crucial to identify passing off, and meticulous side-by-side dissection is not necessary and trade dress has to be judged as whole: HC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (See CORP EINSICHT)

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Cabinet approves PM-eBus Sewa-Payment Security Mechanism scheme

Published: Sep 12, 2024

By TIOLCorplaws News Service

NEW DELHI, SEP 12, 2024: Union Cabinet, has approved the "PM-eBus Sewa-Payment Security Mechanism (PSM) scheme" for procurement and operation of e-buses by Public Transport Authorities (PTAs) with an outlay of Rs. 3,435.33 crore.

This scheme will support deployment of more than 38,000 electric buses (e-Buses) from FY 2024-25 to FY 2028-29. The scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment.

At present, the majority of buses operated by Public Transport Authorities (PTAs) run on diesel/CNG, causing adverse environmental impact. On the other hand, e-buses are environment friendly and have lower operational cost. However, it was anticipated that Public Transport Authorities (PTAs) would find it challenging to procure and operate e-buses because of their high upfront cost and lower realization of revenue from operations.

To address the high capital cost of e-buses, Public Transport Authorities (PTAs) induct these buses through Public Private Partnership on Gross Cost Contract (GCC) model. The PTAs are not required to pay the upfront cost of the bus under the GCC model, instead OEMs/operators procure and operate e-buses for PTAs with monthly payments. However, OEMs/operators are hesitant to engage in this model due to concerns about potential payment defaults. 

The scheme addresses this concern by ensuring timely payments to OEMs/operators through a dedicated fund. In case of default of payments by PTAs, CESL, the implementing agency, shall make necessary payments from the scheme funds which will be later recouped by the PTAs/State/UTs.

This initiative seeks to facilitate adoption of e-buses by encouraging private sector participation. The scheme will also lead to significant reductions in greenhouse gas emissions and also reduce the consumption of fossil fuel. The scheme will provide benefits to all Public Transport Authorities (PTAs) present in State/UTs who opt for the scheme. 

 

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