The Income Tax Department is conducting searches on several premises linked to Hero MotoCorp Chairman Pawan Munjal for suspected tax evasion.
"The searches are being conducted at Hero Moto Corp Chairman Pawan Munjal premises. Over two dozen premises of Hero Moto Corp and its senior executives are also being searched. Search and Seizure action on suspicion of tax evasion," said sources in the Income Tax department.
Also read: India meets highest-ever $400 billion goods export target, PM Modi calls it a ‘key milestone’
The raids have been on since early morning. The raids are being conducted at nearly two dozen locations across the country.
(More details are awaited.)