The Income Tax Department has carried out raids on Dr Pawan Munjal’s residence and workplace in Delhi and Gurgaon respectively. More particulars to comply with.
View PhotosDr Pawan Munjal heads the world’s largest two-wheeler firm by quantity – Hero MotoCorp
The Income Tax Department has carried out raids at Hero MotoCorp Chairman and Managing Director Dr Pawan Munjal’s workplace and residence since in the present day morning, in keeping with newest studies. IT Department officers reportedly additionally carried out searches at different premises associated to different prime officers of India’s largest two-wheeler producer. carandbike has reached out to Hero MotoCorp for an official assertion however thus far, the corporate has not responded.
Hero MotoCorp is the world’s largest two-wheeler producer by quantity with presence in over 40 international locations. It is the market chief within the Indian two-wheeler phase and has six manufacturing amenities in India together with one every in Bangladesh and Colombia. However, it is gross sales worldwide have seen a stoop recently. In February this 12 months, the corporate reported a big 29 per cent fall in complete wholesales in comparison with the identical interval final 12 months.
There was additionally a drop in home gross sales by 31.57 per cent as the corporate managed to promote 3,31,462 items final month in comparison with 4,84,433 items in February 2021. This outcome, nonetheless, didn’t shake the corporate’s development into the electrical car enterprise and it was within the first week of March 2022 that the corporate introduced its new electrical two-wheeler model ‘Vida’, beneath which we are going to see extra EVs pour out into the Indian and world markets.
The carandbike Team is following this story very intently, and can hold you up to date on the developments. So keep tuned!
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With inputs from NDTV
