Allegations Of Tax Evasion Against Hero MotoCorp, Income Tax Raid CEO Pawan Munjal’s Residence And Office

Allegations Of Tax Evasion Against Hero MotoCorp. The Income Tax Department is conducting an inspection at the house and workplace of Pawan Munjal, the Chairman as well as CEO at Hero Motors Corporation.

Hero MotoCorp

The Income Tax Department has been conducting tests in 25 cities which includes Delhi and Krugram which is controlled by Bhawan Munjal, from today. The tests are being conducted across various cities of North India. Income tax officials did not disclose the exact number of locations being test.

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The investigation is based on information gathered from Revenue Investigation Division. Revenue Investigation Division that Hero Motors and a few senior executives were implicated in tax fraud.

The Hero organization did not agree to say anything about this raid. Hero Chairman Pawan Munjal has established branches in Asia, Africa, South America, Central America and 40 more countries.

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Hero Motors has 8 international standard manufacturing facilities. It has six production facilities located situated in India as well as a manufacturing plant located in Bangladesh as well as Colombia. Hero has a 50 percent market share in the Indian two-wheeler market.

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