Legal17 Sept 2025, 02:25 pm
Olectra Greentech Clarifies on Rs. 55 Crore Fine Imposed by PMPML
AI Summary
Olectra Greentech Ltd. has clarified that a news article appearing in Hindustan Times on 15th September, 2025, titled 'PMPML imposes Rs.55 Crore fine on Olectra Greentech' is related to old penalties. The company operates 150 buses in Pune under separate contracts with PMPML and no such penalties have been imposed on Olectra. The penalties mentioned in the article were imposed on EVEY Trans Private Limited and OHA Commute Private Limited for alleged late delivery/non-delivery of buses. These orders have been challenged by the companies and the matter is currently sub-judice.
Key Highlights
- Olectra Greentech has clarified that no penalties have been imposed on them by PMPML
- PMPML had imposed penalties on EVEY and OHA Commute Private Limited for late/non-delivery of buses
- The penalties were imposed in October 2023
- The orders have been challenged by EVEY and OHA and the matter is currently sub-judice
- The news article is related to old penalties and the matter is currently in arbitration