Whalesbook
India's Ministry of Heavy Industries has issued penalty notices to Ola Electric, Reliance New Energy, and Rajesh Exports for failing to meet mandated timelines under the Advanced Chemistry Cell (ACC) Production-Linked Incentive (PLI) scheme. The government has rejected requests for extensions and penalty waivers, demanding payment of accrued penalties for delayed manufacturing plant setup. Daily fines range from Rs 5 lakh to Rs 12.5 lakh, accumulating significant dues for the companies.