The National Company Law Tribunal (NCLT) has ordered the liquidation of Hero Electric Vehicles Pvt. Ltd. after efforts to revive the company through the insolvency resolution process failed to produce an approved plan. The order was passed by the NCLT’s New Delhi Bench on March 3, 2026.The tribunal noted that no resolution proposal received the required support from creditors within the timeline set under the Insolvency and Bankruptcy Code (IBC). As a result, the provisions related to liquidation under the code were triggered.The insolvency proceedings against Hero Electric began after Metro Tyres Limited filed a petition under the IBC. Following the petition, the tribunal admitted the case and initiated the Corporate Insolvency…
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