RattanIndia Enterprises completed a 100 percent stake acquisition of electric motorcycles manufacturer Revolt Motors back in June this year.
To be sure, OEMs which are yet to repay the government, have contested the government’s claims and some of them have already taken legal recourse to resolve the issue.
In a letter to Minister of Heavy Industries MN Pandey, the Society of Manufacturers of Electric Vehicles (SMEV) said the customers who have taken such subsidies can be asked to return these to the affected OEMs.