Hero Moto drops 3% on reports of Delhi Police FIR against Pawan Munjal

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

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Shares of Hero MotoCorp went downhill on October 9 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) against the company and Munjal. 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).

This is a developing story. Please check back for more updates.