As per the promoters of Hero Group, the news reports that it will be exiting the partnership that it has with Japan's Honda, is absolutely untrue. Neither of the two partners has anything of the sorts in their mind.

Earlier there was news that Honda is looking forward to sell 26 per cent stake in the JV. Reports said that while Honda was planning a 20 per cent stake sale, Munjal-led Hero was to sell 6 per cent stake to PE firm, KKR.