Olectra Greentech Limited has received a demand notice from Telangana Industrial Infrastructure Corporation Limited (TGIIC) imposing a penalty of ₹2,57,87,484 (including GST). This penalty is for the delay in the full completion of the ongoing construction of the Greenfield EV Manufacturing Facility at the Industrial Park, Seetharampur, Hyderabad, Telangana. The penalty covers the period from 12th November, 2023, to 11th November, 2025. The company acquired 150 acres of land for this facility on 11th November 2021. TGIIC invoked the penalty clause from the sale agreement due to the delay in completing the factory construction, despite Olectra having partially commenced commercial operations at the new facility within the stipulated timelines. Olectra Greentech stated that apart from the penalty amount, there is no material impact, neither financially nor operationally.