Categories: Economy

Taxmen raid residence and offices of Hero MotoCorp CEO Pawan Munjal

<p>
The Income Tax Department carried out raids at the residence and offices of Hero MotoCorp Chairman Pawan Munjal and other top executives of the company in a case of alleged tax evasion.</p>
<p>
Over 20 premises linked to the two-wheeler giant and its chairman in Gurugram, Delhi were searched, sources in the Income Tax Department confirmed.</p>
<p>
The search and seizure operation was based on information and tracking of the company and its officials by a team of the income tax department.</p>
<p>
“Officials from the Income Tax Department visited two of our offices in Delhi and Gurugram and the residence of our Chairman & CEO Dr. Pawan Munjal on Wednesday. We have been informed that this is a routine inquiry, which is not uncommon before the end of the financial year," the company said in a statement.</p>
<p>
The statement said Hero MotoCorp is an ethical and law-abiding corporate, and maintains the highest standards of impeccable corporate governance.  "In keeping with this philosophy, we are extending our full cooperation to the authorities. We reassure all our stakeholders that it continues to be business as usual," it added.</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/economy-news/rs-crore-black-money-deals-unearthed-in-tax-raid-on-leading-real-estate-group-in-delhi-ncr-159038.html">Rs 3,000 crore black money deals unearthed in tax raid on leading real estate group in Delhi & NCR</a></strong></p>

IN Bureau

Recent Posts

UKPNP Slams Pakistan’s Unconstitutional Presidential Order in PoJK

Jamil Maqsood, the President of the Foreign Affairs Committee of the United Kashmir People's National…

3 hours ago

Meeting of ASEAN-India Trade in Goods Agreement committee concludes in Delhi

The 6th meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee concluded in…

3 hours ago

US adds 29 Chinese firms to Uyghur Forced Labor Prevention Act Entity list

The US Department of Homeland Security (DHS), on behalf of the Forced Labor Enforcement Task…

4 hours ago

Tibetan Parliament-in-Exile calls for UK’s action on China’s Abuses

A delegation from the Tibetan Parliament-in-Exile (TPiE), led by Speaker Khenpo Sonam Tenphel and accompanied…

4 hours ago

Indian Dornier 228 aircraft flypast on the sidelines of India-CARICOM Summit

On the sidelines of the 2nd India-CARICOM Summit, leaders of the member countries witnessed a…

5 hours ago

India spent $14 tn on investments since Independence, more than half of it spent in last 10 yrs: Report

India's economic growth story has witnessed a remarkable surge in investment spending, with over half…

6 hours ago