ED raids Hero MotoCorp Chairman Pawan Munjal’s residence
A company statement on the matter is awaited.
By Autocar Professional Bureau
2163 Views
The Enforcement Directorate raided the residence of Hero MotoCorp’s Chairman, Pawan Munjal today morning. According to provisions of the Prevention of Money Laundering Act (PMLA), searches were conducted at the Gurugram and Delhi premises.
A company statement on the matter is awaited.
According to a media report, the ministry of corporate affairs (MCA) ordered and investigation against Hero MotoCorp in June this year, on the back of alleged corporate governance norm breaches, and questions around actual beneficiaries of a ‘linked’ entity.
Similarly last year, the IT department had raided several premises of Hero MotoCorp. The CBDT (Central Board of Direct Taxation) had said that it had found alleged illegal business expenses of more than Rs 800 crore, without naming the company.
RELATED ARTICLES
Vida VX2 Go Compared: How It Stacks Up on Price, Range & Charging Time
Autocar India
02 Jul 2025
The entry-level VX2 Go is a direct rival to the Bajaj Chetak 3001 and the TVS iQube 2.2.
Qualcomm to Host 'Snapdragon Auto Day' on July 30 in New Delhi
Sarthak Mahajan
02 Jul 2025
The event, held in collaboration with AWS, will bring together industry leaders to explore connected vehicle technologie...
TVS Motor Company Launches New 3.1 kWh Variant of TVS iQube at ₹1.03 Lakh
Arunima Pal
02 Jul 2025
The new model strengthens TVS Motor’s electric vehicle (EV) portfolio, which now comprises six variants.
