Revolt pays back FAME subsidy with interest to centre
Revolt Intellicorp, owned by RattanIndia, has refunded Rs 50.02 crore to the Indian government as a settlement after an investigation found the company violating guidelines for subsidizing locally made electric vehicles (EVs). The refund is against the Rs 44.30 crore subsidy Revolt received under the FAME 2 scheme. Revolt is now eligible to seek subsidy again, subject to government approval.
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