Income Tax Raid: Six other people, including former Trinamool MLA Sohrab Ali, had their residences raided by the IT department. Since Wednesday morning, the Income Tax Department has been conducting raids at various places, including his office and apartment in Asansol, West Bengal.
Notably, raids have occurred at Sohrab Ali’s Rehmat Nagar home, and reports of raids have been received at the homes of Vijay Singh, Javed Khan, and Munnawar Hussain, Syed Imtiaz’s associate and business partner.
The sixth day of the 2023 Parliament Winter Session is today. Important measures about Jammu and Kashmir may be presented in the Rajya Sabha today by Union Home Minister Amit Shah. Opposition leaders may cause a ruckus in the House on a number of different matters at the same time.
Following the discovery of more than Rs 300 crore in cash from locations connected to Congress MP Dheeraj Sahu during IT raids in Odisha, BJP president JP Nadda spearheaded a demonstration by party members against the Congress.
Hero MotoCorp Chairman and MD Pawan Munjal are under income tax raid at his house and office. Pawan Munjal’s Gurgaon home and office are currently under search by the Income Tax Department.
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He is accused of claiming bogus expenses on his accounts. There have been reports that some of the suspicious expenses received by the IT team are also being paid for by in-house companies. This raid is expected to continue even further. As of yet, Hero MotoCorp and the IT department haven’t announced anything.
In reaction to this news, Hero MotoCorp’s shares began to fall. Before news of the raids was released, Hero MotoCorp was trading in profit. Once it caught on, the stock lost all momentum. About 10:30 am, Hero MotoCorp’s stock had fallen by about 2 percent.
The Hero MotoCorp company is the world’s largest manufacturer of two-wheelers. With offices in over 40 countries, the company produces bikes for a variety of markets. Heroes Motocorp is also present in countries such as Asia, Africa, and America. The power of Hero MotoCorp in the Indian two-wheeler market can be seen in some statistics. Hero MotoCorp is the company that sells 50 percent of all two-wheelers in India.
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