News on Medial

Centre Mulls Action Against Hero Electric, Okinawa And Benling India For Not Repaying FAME Subsidy

Inc42 · 1y

The Indian government is considering taking legal action against Hero Electric, Okinawa Autotech, and Benling India for the non-repayment of subsidies they obtained under the FAME scheme. The Ministry of Heavy Industries is looking into potential involvement of agencies such as the CBI or Enforcement Directorate for a thorough investigation into subsidy misuse. The government estimates that it could recover around INR 155 Cr from Hero Electric, INR 125 Cr from Okinawa, and INR 50 Cr from Benling. Other companies, including Ampere EV, Revolt Motors, and Lohia Auto, have resolved the issue by refunding the subsidies along with penal interest.