The corporate affairs ministry on Monday said it’s examining a report by its regional director that has probed charges of corporate governance lapse and fund diversion against Hero MotoCorp.
“The report is under examination and no final conclusion should be drawn in this matter at this stage,” the ministry said in a statement, refuting reports that it has cleared Hero MotoCorp of these charges.
In June 2023, the ministry had ordered the investigation into the affairs of M/s. Salt Experiences and Management and Hero MotoCorp, citing public interest.
The investigation was carried out by the regional director (North), which has submitted the report to the ministry.
