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Autoline Industries receives Rs 8.35 crore for additional IPS claim from Govt

11 Apr 2019 Evaluate

The Government of Maharashtra has approved additional Industrial Promotion Subsidy (IPS) of Autoline Industries worth of Rs 44.61 crore and out of said approved amount, the Company has received an amount of Rs 8.35 crore on April 5, 2019 in first tranche. Earlier, the company had submitted additional subsidy claim to the Government.

Autoline Industries is engaged in the manufacturing of various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two-wheelers, three-wheelers, tractors, etc. The company is also exporting auto parts i.e. brake shoes for Mercedes Benz trailers to Saudi Arabia, Dubai, etc. 

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