'Govt to issue notices to debar more cos found violating FAME-II norms'
The government will issue notices to more companies that have been found violating localisation norms under the Rs 10,000-crore FAME-II scheme seeking to debar them and recover incentives claimed by them since FY 2019-20, an official said on Wednesday. Also, the Heavy Industries Ministry will resume disbursal of subsidies under the scheme shortly as reports of most of the firms under the ambit of the audits being conducted by India's premier vehicle testing and validation agencies ICAT and ARAI have been received, the official said. "We have received reports that some other companies have also violated the FAME-II guidelines. We will be issuing them notices similar to the notices issued to two firms found to be violating the localisation norms earlier," said the official, requesting anonymity. He shared that the subsidies have not gone out but reports of most of the companies have come. "IFCI is processing the subsidy claims and shortly may be in a couple of days we will be resum17-05-2023
