The Income Tax Department is conducting raids on multiple premises of Hero MotoCorp as part of a tax evasion investigation against the country's largest two-wheeler automobile manufacturer. Offices and residential premises of the promoters including chairman and CEO of the group Pawan Munjal in Gurugram, Haryana, Delhi and few other locations are being covered under the raid.
A team of officials of the department are looking at financial documents and other business transactions of the company and its promoters.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
