IPR - Sporadic use of trademark in India is no ground to assume that said trademark has acquired reputation and goodwill of mark in India: HC (See 'Legal Desk') PMLA - Mere attachment of property does not alter position with regard to ownership or even possession/use of properties which are subject matter of such attachment: SAFEMA (See 'Legal Desk') IBC - Prima facie contraventions of regulations, including failure to maximize stakeholder value and non-compliance with auction procedures, justifies initial suspension of registration for two years: IBBI (See 'Legal Desk') Govt announces reward for developing toys fostering learning & child development (See 'Corp Brief') Misc - Case under Negotiable Instrument Act, can't be transferred from one place to another for lack of jurisdiction u/s 406 of CrPC: SC (See 'Legal Desk') Space Technology revolutionizes governance, agriculture & Defence: MoS (See 'Corp Brief') PC Act - Anticipatory bail should only be granted in exceptional cases where there is prima facie indication of false implication or frivolous allegations: SC (See 'Legal Desk') Department of Fisheries hosts Fisheries Startup Conclave 2.0 in Hyderabad (See 'Corp Brief') PMLA - High Court can't direct ED to register ECIR only based on its prima facie finding on predicate offence: SC (See 'Legal Desk') Mandaviya joins in unique Cycle Rally to mark International Women's Day (See 'Corp Brief') Trade Marks Act 1999 - new Trade Mark identical to existing RAPIDO trade mark, warrants cancellation, as it seeks to dishonestly exploit goodwill & reputation of existing Trade Mark holder: HC (See 'Legal Desk') IBC - Section 95 application filed by Respondent No.1 Bank is valid: NCLAT (See 'Legal Desk') CERT-In releases 'Cyber Security Handbook for Mahila Suraksha' booklet (See 'Corp Brief') Ministry of Tourism participated in ITB Berlin 2025 (See 'Corp Brief') Misc - Appellate Courts shall specify time limit for depositing balance sale consideration, as required in Order XX Rule 12A of CPC, in case of specific performance involving sale/ lease of immovable property: SC (See 'Legal Desk') India's AI Revolution (See 'Corp Brief') IBC - Proviso to Sec 61(2) of IBC allows for maximum extension of 15 days in filing of appeal, if sufficient cause is shown: SC (See 'Legal Desk') WTO experts underscore key insights on trade policy and industrial policy linkages (See 'Corp Brief') IBC - Gratuity dues are statutorily protected under Payment of Gratuity Act, and do not form part of liquidation estate of Corporate Debtor under the Insolvency and Bankruptcy Code: HC (See 'Legal Desk') IPR - Infringment of trademark and trade dress calls for permanent injunction: HC (See 'Legal Desk') IBC - Commercial wisdom of CoC to distribute amount under Resolution Plan based on security interest of respective financial creditors, can't be interfered if provisions are duly complied with: NCLAT (See 'Legal Desk') Labour Secy speaks on improving Female Workforce Participation in India (See 'Corp Brief') Mandaviya to inaugurate Office Complex of Zonal Office Telangana (See 'Corp Brief') IBC - Interim moratorium u/s 96 of Insolvency and Bankruptcy Code does not apply to penalty proceedings u/s 27 of Consumer Protection Act: SC (See 'Legal Desk') Global South is driving climate agenda: Yadav (See 'Corp Brief') Broadband connectivity will be provided to all Govt Secondary Schools: PM (See 'Corp Brief') Misc - Only directors responsible for day-to-day affairs and business operations of company, can be made liable for company's default: SC (See 'Legal Desk') CCI okays acquisition of certain shareholding of Schott Poonawalla by TPG Scion (See 'Corp Brief') Misc - Neither partner nor his legal heirs would have exclusive right over firm's property after partner's death or retirement, except share in profit in proportion to contribution made in partnership firm: SC (See 'Legal Desk') CCI approves acquisition of up to 72.8% shareholding of Orient Cement by Ambuja Cements (See 'Corp Brief') Companies Act - There is no reason to register offence u/s 447 of Act of 2013, especially, when allegations and material collected do disclose that main allegations are relating to period when Sec 447 had no application: HC (See 'Legal Desk') CCI approves acquisition of equity of PSP Projects by Adani Infra (See 'Corp Brief') A&C - Scope of interference by Court with arbitral award u/s 34 is very limited, and can't travel beyond to determine whether award is good or bad: HC (See 'Legal Desk') Integrated IT dashboard to streamline flow of ECI information and services (See 'Corp Brief') IPR - If defendants have no real prospect of successfully defending claims in suit, it is fit case where summary judgment in terms of Order XIII-A of CPC can be passed in favour of plaintiffs: HC (See 'Legal Desk') PM appreciates Japan's strong commitment to 'Make in India' (See 'Corp Brief') SEBI - Non-supply of legible copies of documents is such issue which may deprive appellants of ability to defend its case properly: SAFEMA (See 'Legal Desk') CCI okays acquisition by Alpha Wave of 12.44% shareholding in Advanta Enterprises (See 'Corp Brief') Misc - Complaint filed by borrower against bank was not maintainable under Consumer Protection Act as it is pure business-to-business transaction for commercial purpose: SC (See 'Legal Desk')

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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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