The Income Tax Department has conducted raids at the Hero MotoCorp Chairman and Managing Director Dr Pawan Munjal’s office and residence since today morning, according to latest reports. IT Department officials reportedly also conducted searches at other premises related to other top officials of India’s largest two-wheeler manufacturer. Hero MotoCorp is also the world’s largest two-wheeler manufacturer by volume with presence in over 40 countries. It is the market leader in the Indian two-wheeler segment and has six manufacturing facilities in India along with one each in Bangladesh and Colombia. carandbike has reached out to Hero MotoCorp for an official statement but so far, the company has not responded.
Recently, Hero MotoCorp announced its new electric two-wheeler brand ‘Vida’ that promises to kick-start a new chapter in the EV segment for the manufacturer.
This is a developing story… More to follow…
Keyword: Income Tax Department Conducts Raids At Hero MotoCorp Chairman Pawan Munjal's Office And Residence