No final conclusion to be drawn in this matter at this stage

There have been recent reports claiming that the Ministry of Corporate Affairs (MCA) has found no breach of corporate governance or fund diversion in an investigation ordered by MCA in the matter of Hero MotoCorp Limited.

It is clarified that in June 2023 an investigation was ordered into the affairs of M/s. Salt Experiences and Management Private Limited (SEMPL) and M/s. Hero MotoCorp Limited in the public interest under Section 210(1)(c) read with Section 216 of the Companies Act, 2013. The investigation was carried out through the Office of Regional Director (Northern Region) and the report was submitted to the Central Government. The report is under examination and no final conclusion should be drawn in this matter at this stage.

Investigation under the Companies Act: report submitted and under examination, no final conclusion should be drawn. An investigation ordered in June 2023 into the affairs of M/s. Salt Experiences and Management Private Limited and M/s. Hero MotoCorp Limited was conducted under Section 210(1)(c) read with Section 216 of the Companies Act, 2013 through the Office of Regional Director (Northern Region); the report has been submitted to the Central Government and is under examination, and no final conclusion should be drawn at this stage.