Startup news and updates: daily roundup (August 20, 2022)

Open English acquires live english-learning platform enguru

Open English, an English-learning platform in Latin America and the US Hispanic market, has announced the acquisition of India’s mobile language-learning platform, enguru.

Founded in 2015, enguru is a mobile-first English learning platform with over 16 million downloads and average monthly use of over 10 hours per paid student.

“We’re convinced that enguru’s mobile-first learning platform offers the best solution for Indian consumers through its combination of live interactive classes, self-paced lessons and gamified learning activities,” said Andrés Moreno, Founder, Chairman and CEO of Open English. “Its emphasis on live classes as the center of the student experience syncs perfectly with Open English’s mission and belief that live instruction is the best and most effective way for students to learn English.”

Govt amends rules for physical verification of cos' registered addresses

The government has amended rules to ensure a transparent process for the physical verification of companies' registered addresses, including by way of having the presence of independent witnesses and clicking a photograph of the registered office at the time of the verification.

The rules under the Companies Act, 2014, have been amended by the Corporate Affairs Ministry, and will come into effect once notified in the Official Gazette.

Under Section 12 of the Act, a Registrar of Companies (RoC) can do a physical verification of a company's registered office if he or she has a reasonable cause to believe that the company concerned is not carrying out business in a proper manner.

India better placed on growth-inflation-external balance triangle: FinMin report

India is better placed on the growth-inflation-external balance triangle for 2022-23 than it was two months ago, on the back of government policy response and the Reserve Bank's monetary policy actions, the finance ministry's monthly economic review said on Friday.

On the price situation, the review said in absence of any further shocks, the downward movement of global commodity prices along with the RBI's monetary measures and the government's fiscal policies are expected to cap inflationary pressures in the coming months.

Softening of inflationary pressures in India is further on the anvil as the prices of important raw materials such as iron ore, copper and tin that feed into the domestic manufacturing process, globally trended downwards in July 2022, it noted.

Ladakh rolls out EV policy with subsidies to encourage buyers

The Union Territory of Ladakh has announced a new electric vehicle policy with subsidies to encourage the citizens to procure e-vehicles in order to create a carbon-neutral future, an official spokesman said on Saturday.

Ladakh's Electric Vehicle and Allied Infrastructure Policy aims to transform the UT into a torch bearer in terms of the adoption of electric vehicles in the country and envisions to encourage and cultivate an EV ecosystem, the spokesman said.

He said the policy entails a capital subsidy of 10% on two-wheelers, three-wheelers, and four-wheelers.

To encourage sustainable and eco-friendly public transport, public buses will be given a capital subsidy of 25% under the policy, the spokesman said.

(With inputs from PTI. This story will be updated with the latest news throughout the day.)