The inauguration of the Ram Temple in Ayodhya reflects India's unity, rich cultural heritage and resilience, Hero MotoCorp Chairman Pawan Munjal said on Tuesday. Addressing the Hero World 2024 event here, he also said for any country aspiring to achieve new heights of development, upholding its heritage is crucial. "The inauguration of the Ram Mandir yesterday at Ayodhya, once in a lifetime and a monumental event, represents a historic moment. It not only signifies a cultural milestone but also reflects unity, rich cultural heritage and resilience of our great nation," Munjal said. He further said, "I am sure you all will agree that for any country aspiring to achieve new heights of development, upholding its heritage is crucial." Munjal said India's "rich heritage and unparalleled legacy not only inspires us but also provides guidance in the right direction". "Our present day Bharat is progressing by embracing both its profound history and best aspects of modernity," he added.
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Two-wheeler maker Hero MotoCorp on Tuesday reported a 5 per cent rise in its total sales at 54.99 lakh units in 2023 as compared to 52.47 lakh units sold in the previous year. In December 2023, total sales were marginally down at 3,93,952 units as against 3,94,179 units in the year-ago month, Hero MotoCorp said in a statement. Motorcycle sales stood at 3,54,658 units last month as compared to 3,56,749 units in the corresponding period a year ago. Scooter sales in December 2023 were, however, higher at 39,294 units as against 37,430 units in the year-ago month, the company said. "With increased government spending and improved liquidity, encouraging farm activity and the upcoming marriage season, the company expects a positive momentum to build up from the fourth quarter onwards," Hero MotoCorp said.
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The Company has appointed Vivek Anand as Chief Financial Officer (CFO) and Rachna Kumar as the Chief Human Resources Officer (CHRO)
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Last week the company said it recorded highest-ever festive sales, clocking more than 1.4 million units in retail sales during the 32-day festive period.
The Delhi High Court on Friday stayed the proceedings against Hero Motocorp chairman Pawan Kant Munjal in a money laundering case being probed by the Enforcement Directorate (ED). Justice Saurabh Banerjee issued notice to the investigating agency on Munjal's petition against the ED case and granted it time to file its reply. While granting the interim relief, the judge observed that a similar stay order was recently passed on the predicate offence under the Customs Act and the petitioner has been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in that matter. "Accordingly, there shall be a stay of proceedings under the ECIR," the court ordered. The court clarified that the stay was in relation to the petitioner only and the ED was free to proceed further according to law. The Directorate of Revenue Intelligence (DRI) had filed a prosecution complaint last year on charges of allegedly "carrying, attempting to export and illicit export of prohibited ite
Riding high on the success of the festive season, Hero MotoCorp has reduced its post-festive channel inventory to its lowest level in over three years
Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company registered a 19 per cent growth over the festive season last year
Hero MotoCorp expects demand momentum for two-wheelers to build up further in the domestic market with economic indicators remaining positive, according to a top company executive. The country's largest two-wheeler maker, which recently announced its foray into the European market, is revamping its sales infrastructure and is aiming to have at least 100 premium retail showrooms in the next six months. "As far as the economy is concerned, we know about the global geopolitical issues that are going on, however, the Indian economy continues to be resilient and is one of the fastest growing major economies in the world," Hero MotoCorp CEO Niranjan Gupta said in an analyst call. All the indicators are in the positive direction amid a strong consumer confidence index, he added. "While the monsoon has been patchy in parts, if you see the Rabi crops have been pretty good as compared to the last year. The festive season has started off very well and overall we do see momentum building on th
Federal agency seizes assets worth Rs 50 cr, including immovable properties worth Rs 25 cr, of businessman
The Enforcement Directorate on Friday alleged that Hero MotoCorp executive chairperson Pawan Kant Munjal used foreign currency issued in the name of others for his personal expenditure abroad to "override" RBI rules and attached his assets worth Rs 24.95 crore as part of a money laundering investigation. Three immovable properties (in the form of lands) of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement. Munjal (69) is also the CMD and Chairman of Hero MotoCorp Ltd and the assets are worth about Rs 24.95 crore. The ED said its probe found "Pawan Kant Munjal got issued foreign exchange/foreign currency in the name of other persons and thereafter utilised the same for his personal expenditure abroad." It claimed that the foreign currency/foreign exchange was drawn from authorised dealers by an event management company in the name of various employees and thereafter .
The Enforcement Directorate on Friday said it has attached assets worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal as part of a money laundering investigation against him. Three immovable properties of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement. Munjal, it said, is the CMD and Chairman of Hero MotoCorp Ltd and the assets are worth about Rs 24.95 crore. The ED had carried out raids against Munjal and his companies in August after filing a PMLA case against him that was filed after taking cognisance of a Directorate of Revenue Intelligence (DRI) charge sheet that accused him of taking foreign exchange/currency out of India illegally. "The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India," the ED said.