The searches were conducted on suspicion that these EV companies fraudulently availed subsidies worth ₹297 crore under the faster adoption and manufacturing of electric vehicles (FAME) II scheme of the ministry of heavy industries.
After the searches, the SFIO said these companies, in order to claim subsidies under FAME II, had deceptively shown compliance with the applicable guidelines to the heavy industries ministry, which was later found to be incorrect and false.
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Russia for flexibility in talks, Turkey offers to mediate
FORMER RUSSIAN PRESIDENT Medvedev said Russia was ready to discuss a settlement of the Ukrainian crisis, but only with those \"who are ready to communicate\".
India Emerging as Factory of the World, Says PM
PRIME MINISTER NARENDRA MODI asserted on Saturday that his \"vocal for local\" campaign is bearing fruit as Indian products are going global and making their presence felt across the world.
Trump-Zelensky clash divides US Republicans
Spat lowers aid prospects for the Ukrainians
Swing change
The game, like time, doesn't stand still. There's always another story or tournament to rewrite the narrative
Feb GST mop-up rises 9.1% to ₹1.84 lakh cr
THE GROSS GST collections in February came in at ₹1.84 lakh crore, up 9.1% on year, data released by the finance ministry on Saturday showed.
ED Notice to Paytm for FEMA Violations
The Enforcement Directorate has sent a notice to fintech firm Paytm owner One97 Communications for alleged violation of certain FEMA rules by the company in relation to the acquisition of two subsidiaries, as per an exchange filing.
New, bright and shiny drive Motown in Feb
Sales up 3%, on back of new models alone
In India's preloved fashion market, premium is the showstopper
Startups shutting shop citing low scale, but luxury fares better
Goyal to visit US for trade talks
WORKING ON A tight deadline for the India-US trade agreement, commerce and industry minister Piyush Goyal will be in Washington from Monday for a week for initial talks with the US Trade Representative (USTR) who is expected to be sworn in soon.
Just-in-time release of funds saved ₹26K cr: FM
THE JUST-IN-TIME RELEASE of funds implemented by the government through the Treasury Single Account System (TSA) for autonomous bodies and the Single Nodal Agencies (SNAs) model for states have saved the Centre nearly ₹26,000 crore in interest costs since FY18 as borrowings were linked to the actual requirements, finance minister Nirmala Sitharaman said at an event on Saturday.
