Huge I-T raid on Hero MotoCorp premises together with Pawan Munjal’s residence

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I-T officers swooped on 25 premises at 7am on Wednesday at workplaces and residences of senior administration in Delhi, Gurugram and different components of north India.

The Earnings Tax division is finishing up an enormous search operation at over two dozen premises of two-wheeler large Hero MotoCorp together with its Chairman Pawan Munjal’s residence in reference to alleged tax evasion, a senior tax official instructed FE. The corporate’s share worth fell 1.69% to Rs 2,380.3 as of 11.11 am from the earlier closing worth.

The corporate didn’t instantly reply to queries despatched to it on the matter. I-T officers swooped on 25 premises at 7am on Wednesday at workplaces and residences of senior administration in Delhi, Gurugram and different components of north India.

Hero MotoCorp Restricted, previously often known as Hero Honda, is an Indian multinational bike and scooter producer headquartered in New Delhi. The corporate is the biggest two-wheeler producer on the planet.

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