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. 

Related Topics

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.

Growing a Business

7 Strategies to Secure Business from Fellow Entrepreneurs

When implemented, these seven strategies will be valuable and helpful in growing your brand and ultimately increasing your revenue.

Side Hustle

Anyone Can Start a Passive Income Side Hustle For Easy Money — But Only If You Know These 5 Essential Tips First.

The rise of digital automation technology has made starting a passive income side hustle easier and more accessible than ever before.


The Coolest Way to Commute Is Less Expensive Than Ever

Gift yourself a better commute with $1,500 off this eBike.


5 SEO Tips to Grow Your Small Business

Stop following SEO strategies that don't work. Discover the five essential SEO tips you need to grow your small business.

Business News

This Company Promised to Transform Drive-Thrus With AI — But the Secret Powering Its Tech? Humans.

Presto Automation Inc., one of several major players in AI-ordering tech, has made headlines for using off-site employees in places like the Phillippines.