Indian police registers forgery case against Hero MotoCorp, its chairman (updated)

Munjal Showa

09/10/2023 09:55

(Adds details on the case, background from paragraph 2 onwards)
       BENGALURU, Oct 9 (Reuters) - India's Delhi Police has
registered a case against Hero MotoCorp  HROM.NS  and its
chairman, Pawan Munjal, on allegations of forgery and fraud,
according to a police representative and a copy of the first
information report seen by Reuters on Monday.
    The report (FIR) filed by Brains Logistics, which was a
service provider to Hero, accused the company, Munjal and others
of forgery and falsifying account books.
    Hero did not respond to Reuters' request for comment.
    This latest FIR adds to the list of troubles faced by Hero
and Munjal.
    Indian tax authorities had investigated Hero's relationship
with a vendor suspected of reporting about 900 million rupees
($11 million) in false expenditure, Reuters reported in August.
    That was after the country's Enforcement Directorate (ED)
recovered assets worth $3 million from Munjal following a
money-laundering investigation.
 
 ($1 = 83.2090 Indian rupees)

 (Reporting by Aditi Shah; Writing by Kashish Tandon; Editing by
Savio D'Souza)
 ((Kashish.tandon@thomsonreuters.com))