FIR filed against Hero Moto Chairman Pawan Munjal on forgery allegations


Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp

Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp

The Delhi police has filed an FIR against Pawan Munjal, the chairman of Hero MotoCorp, on allegations of forgery, cheating, and falsifying the books of accounts valued at Rs 5.96 crore, according to a report by The Economic Times. Moreover, Munjal has been accused of claiming a tax credit of Rs 55.5 lakh through fake bills generated by the company.

The FIR stated that the “manufactured fake month wise bills” between 2009 and 2010 amounted to R. 5,94,52,525. These bills were signed by Hero MotoCorp Ltd, therefore creating a false debit balance of the same amount. Moreover, the chairman claimed “false credit” of Rs 55,51,777 against the fake bills, thereby cheating the Income Tax Department of India.

The FIR added, “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.”

Pawan Munjal is a 69-year-old billionaire businessman and the promoter of Hero MotoCorp, one of India’s largest two-wheeler manufacturers.

In August, the Enforcement Directorate (ED) searched against the chairman and others under the Prevention of Money Laundering Act (PMLA). These searches were conducted in both the residential and business premises of the Munjal.

At the time, the company had released a statement that read, “Officials from the Enforcement Directorate (ED) today visited two of our offices in Delhi and Gurugram and the residence of our Executive Chairman Dr Pawan Munjal. We continue to extend all cooperation to the agency.”

First Published: Oct 9 2023 | 2:06 PM IST


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