Hero Electric appeals to Punjab and Haryana High Court against INR 155 crore subsidy recovery under India's FAME scheme, citing unclear indigenisation instructions.
Hero Electric, an electric scooter manufacturer, appeals to the Punjab and Haryana High Court for relief from subsidy recovery under India's FAME scheme. The Indian government seeks to recover about INR 155 crore from Hero Electric, alleging wrongful subsidy claims and non-compliance with PMP guidelines. Hero Electric argues that indigenisation and localisation instructions were not detailed in the FAME policy notifications and PLI guidelines.
April 26, 2024
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