
Delhi Police has on Monday filed a first information report against Pawan Munjal, the chairman of Hero MotoCorp Ltd, on allegations of forgery and fraud. The FIR has been filed at Delhi's Vasant Kunj police station.
FIR is related to an old matter dating back to before 2010. The FIR, filed by Brains Logistics, which was a service provider to Hero, accused the company, Munjal and others of forgery and falsifying account books.
In a stock exchange filing, Hero MotoCorp clarified "it is an old matter pertaining to the year 2009-10 with a disgruntled service provider".
This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey). It may also be noted that while the complainant has mentioned company officials in the complaint, however, no official has been named in the FIR. In 2013, Hero MotoCorp also registered an FIR against them and the matter is ongoing before the competent court.
This case has nothing to do with any of the ongoing investigations and tax probes, sources from Hero MotoCorp told CNBC TV18.
At 1355 hours on Monday, Hero MotoCorp's scrip on BSE was trading nearly 3% lower at Rs 2,954.35.
In August, the Enforcement Directorate conducted raids against Pawan Munjal and others as part of a money laundering investigation.
The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
The investigation stems from a Directorate of Revenue Intelligence (DRI) complaint against a person, allegedly close to Munjal, who was investigated on charges of carrying undeclared foreign currency.
With inputs from Arvind Ojha