New Delhi: Ola Electrical, Ather Power, TVS Motor Firm, and Hero MotoCorp have collectively deposited INR 129.30 crore with IFCI Ltd, a state-run non-banking finance firm.
That is a part of the INR 312.42 crore in complete refunds these firms have to make to electrical two-wheeler (e2w) patrons following allegations of mispricing and wrongful claims of presidency subsidies.
In accordance with a prime official on the heavy industries ministry, a sum of INR 183.15 crore has been paid again to e2w patrons to date. “Prospects have to proceed approaching the e2w makers to hunt a refund. As soon as the businesses give again the cash, they should furnish a proof of the identical to IFCI. After that proof is verified, the funds parked with IFCI will likely be launched to the businesses,” the official instructed ET.
Earlier this 12 months, a authorities probe into buyer complaints found that these 4 two-wheeler makers had been billing their charger and proprietary software program as an add-on to their electrical scooters. That is thought of a violation of norms beneath authorities’s FAME (quicker adoption and manufacturing of hybrid & electrical automobiles) scheme. The scheme specifies that electrical two-wheelers that retail above INR 1.50 lakh per unit are ineligible for advantages beneath the INR 10,000 crore programme.