Latest news with #RupaliSharma
Entrepreneur
15 hours ago
- Automotive
- Entrepreneur
Okinawa Autotech Secures INR 60 Cr from Existing Investor
Founded in 2015, Okinawa Autotech is an electric two-wheeler manufacturer with eight models, including PraisePro, iPraise+, Okhi-90, Ridge+, Lite, and R30, promoting sustainable mobility in India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Electric two-wheeler manufacturer Okinawa Autotech has raised INR 60 crore (approximately USD 7 million) from its existing investor, Dhruv Khush Business Ventures. The investment comes at a crucial time as the company grapples with a sharp decline in revenue and market share. According to a filing with the Registrar of Companies (RoC), Okinawa issued 23,51,000 equity shares at INR 255.21 per share. Founded in 2015 by Jeetender Sharma and Rupali Sharma, Okinawa Autotech was an early beneficiary of schemes like FAME and EMPS. However, it later faced scrutiny for importing parts instead of sourcing them locally, violating scheme guidelines. The Ministry of Heavy Industries has ordered the company to repay INR 116.84 crore disbursed under these schemes. Due to funding constraints, Okinawa told the court it was unable to maintain production. In FY24, the company's revenue dropped to INR 182.2 crore from INR 1,143.8 crore in FY23. However, losses narrowed to INR 52.1 crore in FY24 from INR 81.7 crore the previous year. Despite its current struggles, Okinawa competes with leading EV brands like Ola Electric and Ather Energy, which reported revenues of INR 4,514 crore and INR 2,255 crore respectively in FY25.
Time of India
25-04-2025
- Time of India
Teacher booked for duping students with fake fee receipts
Haridwar: An FIR was filed on Thursday against a 30-year-old guest lecturer at a private law college in Haridwar for allegedly duping students by taking their fees in cash and handing over fake bank receipts without depositing the money. Police said Rupali Sharma had been teaching English at the college under Jawalapur police station limits for the past few years. The fraud came to light when the administration flagged unpaid dues, and students revealed they had paid Sharma directly. Following the discovery, she stopped coming to the college and remained unreachable. Jawalapur circle officer Avinash Verma said, "A case has been registered, and further investigation is underway."
