Hero Moto drops 3% on reports of Police FIR against company

Hero Motocorp | CMP Rs 2960 | Shares of Hero MotoCorp closed down 2.5 percent after Delhi Police filed a case against Pawan Munjal, managing director and chief executive of the company. Sources told CNBC-TV18 that the Vasant Kunj Police Station filed a first information report (FIR) relating to an old matter dating back before 2010, against the company and Munjal.

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26 Aug, 2025 12:21

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Shares of Hero MotoCorp went downhill on October 9 after Delhi Police filed a case against the company.

Sources told CNBC-TV18 that the Vasant Kunj Police Station filed a first information report (FIR) against the company and officials. The FIR relates to an old matter dating back before 2010, the source added.

Hero MotoCorp traded down 3 percent to Rs 2945 on the BSE.

This case is not related to money laundering investigation being carried out by the Enforcement Directorate and the Directorate of Revenue Intelligence (DRI), an investigative arm of the Central Board of Indirect Taxes and Customs (CBIC).

Regarding the FIR filed against the company and its officials, the company in its statement said, "This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey). It may also be noted that while the complainant has mentioned company officials in the complaint, however, no official has been named in the FIR. In 2013, Hero MotoCorp also registered an FIR against them and the matter is ongoing before the competent court."