Delhi Police files FIR against Hero Moto chairman Pawan Munjal, alleging forgery

9 Oct 2023 , 02:21 AM

The Hero MotoCorp Chairman Pawan Munjal has been accused of fabricating records and receiving tax credits on fictitious invoices produced by the business, according to a FIR filed by the Delhi Police.

The FIR filed on October 5 accuses the Munjal of forging documents, defrauding people, and fabricating financial records totaling Rs 5.94 crore in order to claim a tax credit of Rs 55.5 lakh.

The FIR stated “At the outset the allegations as set out by the complainant herein is that the accused company no.1 (Hero MotoCorp) in collusion with accused no.2 and 3 manufactured fake month wise bills of total Rs. 5,94,52,525/- of the years 2009 and 2010 which said month-wise bills are signed and having stamp of ‘Hero MotoCorp Ltd’ and created false debit balance of total Rs 5,94,52,525/- in its books of accounts against the complainant company herein and have obtained false CENVAT (Service Tax) credit of Rs 55,51,777/- against the fake bills and cheated the Income Tax Department, Government of India and the complainant company herein whereas the fake bills was never issued or submitted by the complainant company in the year 2009 and 2010 since ‘Hero MotoCorp Limited’ came into existence in July 27,2011 in terms of the certificate of incorporation issued by the Registrar of Companies, New Delhi”

The Enforcement Directorate (ED) searched Munjal and others earlier in August of this year as part of a money laundering probe. In addition to some related organizations, searches were conducted at the 69-year-old billionaire businessman’s residence and place of business in Delhi and Gurugram. He is the promoter of India’s largest two-wheeler manufacturer.

According to the news reports, the raids were carried out after the ED filed a case against them in accordance with the PMLA’s prevention of money laundering rules. Officials from the Enforcement Directorate (ED) visited two of our offices—one in Delhi and one in Gurugram—as well as the home of our executive chairman, Dr. Pawan Munjal, according to a statement released by the firm at the time. We continue to provide the agency with full cooperation.

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