"Routine Affair": Hero MotoCorp On Tax Raids At Offices, Chairman's Home
NDTV
Hero MotoCorp, whose chairman Pawan Munjal's home was also raided, assured stakeholders that "it continues to be business as usual".
Hero MotoCorp, which was raided today over allegations of tax evasion, has denied any wrongdoings and termed the searches as "routine inquiry, not uncommon before the end of the financial year".
The company, whose chairman Pawan Munjal's home was also raided, assured stakeholders that "it continues to be business as usual".
A team of officials of the Tax Department examined financial documents and other business transactions of the company and its promoters, said officials.
"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.
