Delhi HC stays cheating case proceedings against Hero MotoCorp's Pawan Munjal

Delhi High Court on Thursday stayed cheating case proceedings against Hero MotoCorp's Pawan Munjal, company's officials.

HC will next hear the Hero MotoCorp forgery case on December 6. At 1450 hours on Thursday, Hero MotoCorp's scrip was trading 0.7% lower at Rs 3,078.2.

Delhi Police had on Monday filed a first information report against Pawan Munjal, the chairman of Hero MotoCorp Ltd, on allegations of forgery and fraud. The FIR had been filed at Delhi's Vasant Kunj police station.

FIR is related to an old matter dating back to before 2010. The FIR, filed by Brains Logistics, which was a service provider to Hero, accused the company, Munjal and others of forgery and falsifying account books.

In a stock exchange filing, Hero MotoCorp clarified "it is an old matter pertaining to the year 2009-10 with a disgruntled service provider".

"This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey). It may also be noted that while the complainant has mentioned company officials in the complaint, however, no official has been named in the FIR. In 2013, Hero MotoCorp also registered an FIR against them and the matter is ongoing before the competent court," said the two-wheeler firm.