I T Raids

There have been media reports wherein Hero MotoCorp has been accused of raising Rs 1,000 crore bogus expenses, which the company in its clarification has denied. Hero’s corporate governance has always been top notch and it is unlikely that these accusations are true. Even if it is true, we believe it has already been factored in the price, and downside is limited given that the leader in two-wheeler space is available at a valuation of 13.4 times FY23 projected earnings.

The long history of raids by central agencies on Opposition leaders during elections

Income Tax officials raided the properties of DMK chief MK Stalin’s daughter Senthamarai and her husband Sabareesan in Chennai on April 2, four days ahead of assembly polls in Tamil Nadu where the ruling AIADMK-BJP combine is contesting against opposition’s DMK-Congress alliance. The NDA, and UPA in the past have faced allegations of misusing central agencies against political rivals.

Maharashtra elections 2019: Income Tax Dept seizes cash and gold worth Rs 43 crore

The investigation wing of the I-T Department has seized around Rs 43.18 crore since September 27, of which Rs 2 crore was released after documents of the cash and valuables were furnished before it.

Taxmen raid residence of DMK leader Duraimurugan

The DMK has fielded Duraimurugan's son, D M Kathir Anand, from the Vellore seat for the upcoming Lok Sabha polls.

I-T Department conducts 100 searches across 4 metros

The taxman’s investigation spans over 100 shell companies and citizens who failed to disclose unaccounted income under the disclosure scheme, sources told CNBC-TV18.