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Places of work and residential premises of Hero MotoCorp Chairman Pawan Munjal are being searched.
New Delhi:
The Revenue Tax Division is conducting searches on a number of premises linked to Hero MotoCorp Chairman Pawan Munjal and different senior executives of the corporate for suspected tax evasion.
Places of work and residential premises of Mr Munjal in Gurugram, Haryana, Delhi and few different places are being coated, sources within the Revenue Tax division stated.
A workforce of officers of the division are taking a look at monetary paperwork and different enterprise transactions of the corporate and the promoters, they stated.
“The searches are being performed at Hero MotoCorp Chairman Pawan Munjal premises. Over two dozen premises of Hero Moto Corp and its senior executives are additionally being searched. Search and Seizure motion on suspicion of tax evasion,” sources within the Revenue Tax division instructed NDTV.
Hero MotoCorp has reported a major 29 per cent fall in complete wholesales in February. The auto firm bought 3,58,254 models as in opposition to 5,05,467 models within the corresponding interval of final yr, in response to an organization assertion.
Home gross sales have been additionally down 31.57 per cent at 3,31,462 models final month in comparison with 4,84,433 models in February 2021.
Motorbike gross sales final month stood at 3,38,454 models in comparison with 4,63,723 models in similar month final yr.
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