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Mahindra & Mahindra refutes reports of penalty for emission norms violations | Company Business News

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Mahindra & Mahindra has refuted claims of facing penalties for not meeting emission norms in the 2022-23 financial year. The automaker clarified that no penalties have been imposed and it anticipates no significant financial liability. The claims were made in a report by The Indian Express, alleging that several carmakers, including Mahindra, exceeded fleet emission limits, potentially leading to penalties totaling ₹7,300 crore. Mahindra argued that the penalties should not be applied retrospectively and that it does not expect any liabilities for the mentioned time frame. The compliance issues are related to Corporate Average Fuel Efficiency (CAFE) norms.