Income Tax Raids Hero MotoCorp Offices and Residence of Pawan Munjal

As per ANI reports, Income tax department on Wednesday morning raided multiple premises linked to the top officials of Hero Motocorp, that includes promoter Pawan Munjal.

Officials started searching at the residence of Pawan and office of Hero Motocorp in Gurugram on Wednesday morning.

Two officials of the company are also under scanner of IT department.

Sources in Income Tax department said, Pawan Munjal's home and offices in Gurugram in Haryana, Delhi and some more cities were searched.

A team of officials of the department looked into the financial documents and other business transactions of the company and its promoters.

Hero MotoCorp hasn't made any official statement on the tax raid and the company's stocks fell 1.5% on news of the raids.

Source: HT