Olectra Green Penalized Rs 25.8 Million By TGIIC

Olectra Greentech Ltd, a leading manufacturer of electric buses and a key player in India’s clean mobility sector, has announced that it has been served a penalty order worth Rs 25.8 million by the Telangana Government Industrial Infrastructure Corporation (TGIIC). The order comes amid heightened scrutiny of infrastructure and compliance standards in the state.  

Key highlights from the announcement include  

• The penalty amount stands at Rs 25.8 million, issued by TGIIC.  
• The order pertains to compliance-related matters in ongoing projects.  
• Olectra Greentech is evaluating the order and exploring legal and regulatory options.  
• The company has assured stakeholders of its commitment to transparency and adherence to statutory norms.  
• Despite the penalty, Olectra continues to focus on its core operations in electric bus manufacturing and deployment across India.  
• Industry experts note that such penalties are part of routine regulatory processes and often involve clarifications or appeals.  

The development underscores the importance of compliance in India’s fast-growing electric mobility sector. Olectra’s proactive stance in addressing the issue reflects its commitment to maintaining credibility while continuing to expand its footprint in sustainable transport solutions.  

Sources: Moneycontrol, Punekar News, Olectra Greentech Investor Presentation