Pawan Munjal has been accused of forgery, falsifying books.
An FIR was registered against Hero MotoCorp’s Executive Chairman Pawan Munjal by the Delhi Police on allegations of forgery, cheating, and falsifying the books of accounts valued at Rs 5.96 crore.
The complainant has been registered by Brains Logistics.
According to media reports, in the FIR, five accused have been named including Pawan Munjal; Vikram Kasbekar and Hari Gupta, both identified as officers in Hero MotoCorp; and Manjula Banerji, auditor for the company in 2009 and 2010, identified as a partner in Deloitte Haskens & Sells.
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Brains Logistics has alleged that the accused colluded to cheat and falsify the books, and manufactured fake month wise bills debited against the complainant totaling Rs 5,94,52,525 for 2009 and 2010.
Its contract with Hero MotoCorp ended on March 31, 2009 and thus all bills claiming debits to them post that date are falsified, it said.
These bills were signed by Hero MotoCorp Ltd, therefore creating a false debit balance of the same amount.
It is to be noted that the 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 shares of Hero MotoCorp plunged 3 per cent Monday’s trade after the news of FIR came out.
In the month of August, the Enforcement Directorate 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.
On the ED searches, company had said, “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.”
The search against the 69-year-old billionaire businessman and the promoter of Hero MotoCorp originated from a complaint filed by the Directorate of Revenue Intelligence (DRI), an investigative branch of the Central Board of Indirect Taxes and Customs (CBIC).
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