SFIO holds search operations at Hero Electric, other cos for fraudulent availing of subsidies worth Rs 297 crores under FAME II

The SFIO has conducted searches at Hero Electric, Benling India, and Okinawa Autotech for fraudulent subsidy claims worth Rs. 297 crores under the FAME II scheme. The companies falsely claimed compliance with guidelines to avail subsidies. Investigations revealed non-compliance as key components were imported from China, violating guidelines. Further investigation is ongoing.