Notably, for the first time since the launch of its cab services in Maharashtra in 2014, Ola and Uber had applied for getting the licence. Even though the state government had brought new rules to regulate app-based cab services, the companies had never applied for aggregator licence.
Three Regional Transport Offices (RTOs) in Mumbai Metropolitan Region (MMR) have received ten applications from six companies, including Ola and Uber, for the aggregator license as per the provisions of the new cab aggregator policy, RTO officials said on Monday.
Get latest articles and stories on India at LatestLY. Three Regional Transport Offices (RTOs) in Mumbai Metropolitan Region (MMR) have received ten applications from six companies, including Ola and Uber, for the aggregator license as per the provisions of the new cab aggregator policy, RTO officials said on Monday. India News | Ola, Uber Among Six Companies Apply for Aggregator Licenses in Mumbai Metropolitan Region.
M&M to acquire remaining stake in Meru
April 30, 2021
Pravin Shah to be CEO of Meru, its subsidiaries
Mahindra and Mahindra Ltd (M&M) has entered into definitive agreements with shareholders of Meru Travel Solutions Private Ltd to buy their respective stakes in Meru and increase its stake to 100 per cent.
Following the deal, Pravin Shah, who was earlier President Automotive, M&M till March 2017, will be the CEO of Meru and its subsidiary companies, with effect from May 1.
M&M would acquire 44.14 per cent shares from private equity investor True North and others for an amount not exceeding ₹76.03 crore and 12.66 per cent from Neeraj Gupta and Farhat Gupta for an amount not exceeding ₹21.63 crore, the company said in a statement.