Revolt Intellicorp returns Rs 50 crore claimed under FAME-II
He said while notices were issued to the firms after giving them a hearing, more time will be given as some of them maintain that they have not violated norms and will be required to submit documents validating their claims.
Representative image (Photo/X)
NEW DELHI: Revolt Intellicorp, one of the seven companies accused of violating phased manufacturing programme guidelines under the Rs 10,000-crore FAME-II scheme, has repaid the subsidy claimed, along with interest, amounting to Rs 50.02 crore to the government.
Joint Secretary in the Ministry of Heavy Industries Hanif Qureshi confirmed the repayment and said the ministry will give “a few weeks more” to six other companies found violating the Phased Manufacturing Programme (PMP) norms.
He said while notices were issued to the firms after giving them a hearing, more time will be given as some of them maintain that they have not violated norms and will be required to submit documents validating their claims.
Apart from Revolt Intellicorp, the six other companies found violating the norms were Hero Electric, Okinawa Autotech, Ampere Vehicles (Greaves Cotton), Benling India, Amo Mobility, and Lohia Auto.
