00:00 To make two wheeler, the problem of popular company Hero Motocorp can increase.
00:05 The company's CEO Pawan Munjal has taken a big action.
00:09 And has filed a complaint at Pawan Munjal's house and in various offices.
00:13 Why has he filed a complaint? What is the whole matter? Let's tell you.
00:16 This complaint has been filed under the provisions of the PMLA, under the money laundering prohibition.
00:21 The ED has filed a case against the CEO of Hero Motocorp.
00:26 According to the PMLA's provisions, Delhi and neighboring Gurugram were searched.
00:31 ED has made this case after getting input from the Department of Revenue Intelligence.
00:36 DRI had also caught a close friend of Pawan Munjal with large amount of unannounced foreign currency at the airport.
00:43 Meanwhile, Hero Motocorp's shares crashed.
00:46 On the second business day of the week, the company's shares were trading at Rs. 3.24% or Rs. 103 with a fall of Rs. 3100.
00:55 Today, the share also touched the highest level of 52 weeks, which is Rs. 3242.85.
01:02 According to a report by Maricontrol, the home automobile is on the radar of the main Hero Motocorp government.
01:08 The Ministry of Corporate Affairs has started an investigation against the company.
01:12 This investigation has been started by the IACR department in some transactions of Hero Motocorp.
01:19 According to Reuters, the IACR will investigate the relationship of the company with third-party vendors in the matter of money transfers and will also investigate its ownership structure.
01:29 The ED's publication can also be about this matter.
01:32 Previously, the Ministry of Corporate Affairs had ordered an investigation against Hero Motocorp Ltd. on various corporate governance issues.
01:40 Hero Motocorp has been accused of running shell companies.
01:45 The company's registrar's investigation also found that a thorough investigation is required in the case of companies and related institutions.
01:52 If you tell you about Pawan Munjal and the company, then Pawan Munjal is the CEO and full-time director of the world's largest manufacturer of motorcycles and scooters, Hero Motocorp.
02:04 In the kidnapping of Pawan Munjal, Hero Motocorp won the title of the largest manufacturer in the world of two-wheeler in 2001.
02:11 And for 22 years, it has been the leading company in the country.
02:15 Hero Motocorp currently sells its products in more than 47 countries in Asia, Africa, Latin America and the Middle East.
02:23 The company has 8 manufacturing facilities, 6 of which are in India and 1 is located in Colombia and Bangladesh.
02:30 Now we will have to see how much Pawan Munjal's difficulties increase or decrease.
02:35 It will also be interesting to see what is the decline in the company's shares.
02:39 If you are an investor in this company, then do tell us by commenting what you think about this matter.
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02:53 [Music]
