Hero Electric seeks to settle Rs 140 crore penalty imposed by MHI

As a result, Hero Electric has made it clear that it, too, is willing to make a similar settlement of any violations that the ministry might ascertain after examining its case

Hero Electric has told the government that it wants a resolution of the contentious Rs 140 crore penalty imposed on it by the Ministry of Heavy Industries (MHI).

The ministry had sent notices to seven companies, including Hero Electric, with a penalty demand for alleged violation of the Phased Manufacturing Programme guidelines and other issues.   

Hero Electric, which makes electric two wheelers, has informed the ministry that it is clear that the government has taken a case-by-case approach and has settled the demands imposed on each of the original equi­pment manufacturers (OEMs) on the basis of the merits of the case.