The company has received an order from the office of the Assistant Commissioner, Division-IV, CGST & Central Excise, Ahmedabad South imposing a penalty amounting to Rs 56,04,246 in relation to the two-wheeler business of Mahindra Two Wheelers Ltd., which was demerged from MTWL and has since been merged with M&M, Mahindra & Mahindra said in a regulatory filing.