Hero Electric Vehicles enters insolvency process over ₹1.8 crore debt dispute with Metro Tyres.

The National Company Law Tribunal (NCLT) in New Delhi has admitted Hero Electric Vehicles into a Corporate Insolvency Resolution Process (CIRP) after Metro Tyres filed a petition over unpaid dues of ₹1.8 crore. Hero Electric, an electric vehicle manufacturer, faces accusations of not meeting government subsidy requirements and owes around ₹400-500 crore to its dealers. The NCLT has appointed an interim resolution professional to manage the process.

3 months ago
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