Get All Access for $5/mo

Are India Inc In The Line Of Fire From The Taxmen? The latest are the Income Tax raids on Hero Motorcorp MD Pawan Munjal's office and residence

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


The Income Tax Department has raided multiple premises of Hero Motocorp, including the office and residence of chairman and managing director Pawan Munjal.

"The Income Tax department conducted searches at multiple premises of Hero Motocorp. The office and residence of promoter Pawan Munjal and premises linked to the top officials of the company are covered in this search. More details awaited: Sources," tweeted ANI.

These raids are part of a tax evasion investigation, said Income Tax department officials.

However, Hero MotoCorp later issued a statement stating the searches at Munjal's premises were part of a routine enquiry ahead of the end of the fiscal year.

This is not an isolated case. Many corporate offices have been under the Enforcement Directorate's (ED) radar.

The premises of Indiabulls Finance Center in Delhi and Mumbai were raided by ED, in February this year. The search was carried out in connection with money laundering allegations made against the promoter Sameer Gehlot in April 2021, said a report.

Hiranandani Group, one of the largest real estate developers in the country, also faced the music in March. The Income Tax department raided around 25 premises of the group. The search spanned across three cities - Mumbai, Bengaluru and Chennai. According to sources, the raids were carried out over suspected tax evasion by the group.

Startups too are no exception to this. Recently, the IT department carried out searches at premises of the Zetwerk Manufacturing unit, on suspected tax evasion. Other than the official premises, residence of the Unicorn's founders and directors were also searched, said a report.

Similarly, B2B marketplace for construction materials, Infra.Market was also raided by tax authorities at its multiple office locations on suspected irregularities of taxes. Undisclosed income worth INR 224 crore was unearthed and the searches were launched at the firm's 23 premises in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh, said a report.

Shrabona Ghosh


A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 

California's Fast-Food Minimum Wage Hike Is Already Impacting Franchises. Here's What a New Study Revealed.

Several chains have raised their prices — or closed locations — in response to the wage increase, which has now led to a noticeable decline in foot traffic.

Business News

Apple Is Working on Making Its $3,499 Vision Pro More Affordable — and Mainstream. Here's How.

Apple's product is at least three times more expensive than Meta's version.


Telling Better Franchise Stories Via The Narritive Arc

Storytelling triggers the release of oxytocin, a hormone associated with empathy and trust, fostering a deeper emotional connection with the brand. Let's dive into that.

News and Trends

Amul's MD Jayan Mehta On The Growth of the Company And Its Global Expansion

Gujarat Cooperative Milk Marketing Federation, which sells dairy products under the Amul brand, recently introduced fresh milk in the US market as part of a partnership with the Michigan Milk Producers Association. Now, the organization wants to increase the range of items it offers

Growing a Business

New York News Anchor Rosanna Scotto and Her Daughter Jenna Ruggiero Share the Secret of Running a Successful Family Business

Fresco by Scotto restaurant co-owners Rosanna Scotto and Jenna Ruggiero break down their family's business, how they use social media, and the impact of their philanthropic efforts.

Business News

50 Cent Once Sued Taco Bell for $4 Million. Here's How the Fast-Food Giant Got on the Rapper's Bad Side.

The brand suggested that 50 Cent change his name to match its "Why Pay More?" value menu promotion prices. The rapper was not amused.