Hero Electric has denied receiving a letter from the Ministry of Heavy Industries (MHI) about a “wrongfully claimed subsidy” for electric two-wheeler (E2W) manufacturing.
“…we would be happy to respond to it if and when we get it as it would hopefully open the doors for dialogue and resolution rather than the stalemate for the last fifteen months,” said Sohinder Gill, chief executive officer of Hero Electric, in a statement on Sunday.
“This could be the first step to help us to recover the Rs 500 crore held up with the Department (MHI) as unpaid subsidy quickly,” Gill said.
