Sohinder Gill, CEO of Hero Electric India poses with the Dash and ER series electric two-wheelers, in Kolkata.
| Photo Credit: PTI
The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of ₹1.85 crore.
As per provisions of the Insolvency & Bankruptcy Code (IBC), NCLT has appointed Bhoopesh Gupta as Interim Resolution Professional to run the company after suspending the board of Hero Electric.
The Delhi-based bench of NCLT rejected the contentions of Hero Electric of a pre-existing dispute with…
