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 equi-pment manufacturers (OEMs) on the basis of the merits of the case.

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