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5 E2-wheeler cos face lawsuits over FAME-II
Mint Mumbai
|July 29, 2023
Only 2 out of 7 firms served recovery notices have agreed to return money
The ministry of heavy industries (MHI) is set to take legal action against five electric two-wheeler makers for failing to repay the subsidies that were allegedly wrongfully claimed under the government’s FAME-II scheme.
According to an official with direct knowledge of the matter, out of the seven companies that received recovery notices, only two have agreed to return the subsidy amount sought by the government retrospectively. However, Hero Electric, Okinawa AutoTech, Ampere, and Benling India declined to comply with the payment demands.
The companies are likely to face recovery suits and be compelled to engage in legal proceedings with the government, which is determined to recover around ₹469 crore in remaining subsidies.
The companies willing to return the subsidy amount are electric two-wheeler motorcycle manufacturer Revolt ( ₹24 crore) and Noida-based e-scooter manufacturer Amo Mobility ( ₹83 lakhs).
Esta historia es de la edición July 29, 2023 de Mint Mumbai.
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