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News on Medial
Indian police registers forgery case against Hero MotoCorp, its chairman
Reuters
·
1y ago
Medial
India's Delhi Police has registered a case against Hero MotoCorp and its chairman, Pawan Munjal, on charges of forgery and fraud. The FIR, filed by Brains Logistics, alleges forgery and falsifying account books by Hero, Munjal, and others. This adds to the troubles faced by Hero and Munjal, including a tax investigation and a money-laundering probe by the Enforcement Directorate. Hero MotoCorp has not provided any comment on the matter.
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Economic Offences Wing registers FIR against BharatPe ex-boss Grover
Livemint
·
1y ago
Medial
The Economic Offences Wing (EOW) of Delhi Police has registered a first information report (FIR) against Ashneer Grover, the former managing director of BharatPe, and his family members. The FIR includes charges such as criminal breach of trust, cheating, forgery, and criminal conspiracy. This comes in response to a criminal complaint filed by BharatPe accusing Grover and his family of committing a ₹81.28 crore fraud. BharatPe alleges financial discrepancies, irregularities in recruitment, and hiring of third-party vendors. Grover has been the subject of multiple lawsuits, including one filed by BharatPe seeking damages.
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NestAway founder levels fraud charges against Tiger Global, others
Inshorts
·
6m ago
Medial
Amarendra Sahu, co-founder of rental property platform NestAway, is pursuing a criminal case against lead investors Tiger Global, Goldman Sachs and Chiratae Ventures, as well as co-founders Jitendra Jagadev and Smruti Parida. Sahu filed a police complaint in 2024, accusing the parties of engaging in fraud, forgery and coercion during NestAway's sale in 2023.
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Legal Battle Brews Over 'X440' Bike Name Delhi High Court Issues Notice to Hero MotoCorp
Business Bytes
·
1y ago
Medial
Hero MotoCorp, a major motorcycle manufacturer, is facing a legal battle over its usage of the name 'X440' for one of its bikes. Ultraviolette, an electric motorcycle player, has raised concerns about the potential confusion and similarity to their own products. The Delhi High Court has issued a notice to Hero MotoCorp, highlighting the importance of addressing potential naming conflicts and maintaining distinct brand identities within the competitive automotive industry. The outcome of this case could set a precedent for how such issues are handled in the Indian market.
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Ather brings ₹390 crore loss to Hero MotoCorp in FY24
Inshorts
·
11m ago
Medial
EV startup Ather Energy's loss attributable to Hero MotoCorp stood at ₹389.77 crore in FY24. Hero MotoCorp, which holds over a 40% stake in Ather, forged a partnership with Ather for an EV charging network. In FY24, Hero MotoCorp invested nearly ₹700 crore to increase its stake in Ather to 40.89% from 33.11% in FY23.
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Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore
Livemint
·
1y ago
Medial
Hero MotoCorp has announced its plans to purchase additional shares of Ather Energy, which will increase its stake in the company to 39.7%. Ather Energy is engaged in the manufacturing and selling of electric two-wheelers. The deal will involve Hero MotoCorp buying the additional shares for ₹140 crore. Additionally, Hero MotoCorp has made two key executive appointments, bringing in Vivek Anand as Chief Financial Officer and Rachna Kumar as Chief Human Resources Officer. Both executives bring extensive global experience to their roles.
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Hero MotoCorp Joins ONDC To Sell Two-Wheeler Parts Online
Inc42
·
1y ago
Medial
Hero MotoCorp, a leading automobile company, has joined the Open Network for Digital Commerce (ONDC) in India. Becoming the country's first auto company to join the platform, Hero Motocorp aims to enhance customer convenience through this partnership. Initially, the company will offer two-wheeler parts, accessories, and merchandise on the open network, available through buyer-side apps such as Paytm and Mystore. The integration will enable Hero MotoCorp to offer a digital mode for customers, streamline order processing, and leverage its physical distribution network for hyperlocal deliveries. ONDC is expanding rapidly by onboarding new players onto its network.
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Hero MotoCorp hits new all-time high, rises for 5 consecutive sessions
Money Control
·
1y ago
Medial
Shares of Hero MotoCorp, an Indian automobile company, rose over 3% to reach a 52-week high of ₹5,045 ($69.78) on May 14th, following the company's announcement of joining the ONDC Network. Hero MotoCorp is the first automobile company in India to join the network. The collaboration aims to expand the company's reach by partnering with various apps on the network, facilitating order processing and hyperlocal deliveries. The move supports the Digital India mission and aims to revolutionize the digital automotive marketplace.
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Orissa High Court orders detailed status report in complaint filed by Nestaway cofounder against Tiger Global, Chiratae, Goldman Sachs
Economic Times
·
6m ago
Medial
The Orissa High Court has directed the investigating officer to file a detailed status report on the complaint by Nestaway cofounder Amarendra Sahu against Tiger Global, Chiratae Ventures, Goldman Sachs, and others, alleging fraud and forgery during the sale of Nestaway. The court maintained the interim order protecting the accused from coercive action and suggested exploring settlement possibilities. Sahu alleged forgery in documents promising him Rs 11.72 crore, with the case set for a February hearing.
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Hero MotoCorp Eyes Leadership in Electric Two-Wheelers with Affordable Models: CEO
YourStory
·
12m ago
Medial
Hero MotoCorp aims to lead the electric two-wheeler market by introducing affordable models this fiscal year. The company plans to rapidly scale its electric vehicle business and expand its product portfolio. Hero MotoCorp's VIDA electric scooters have seen success in India, and the company hopes to launch them in international markets as well. The company is also partnering with Ather Energy and Zero Motorcycle to create a robust charging infrastructure and develop new EV motorcycles. Hero MotoCorp is focusing on speed, scale, synergy, and simplification, leveraging its significant scale advantage to drive success.
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Zaggle Partners Hero MotoCorp To Help Streamline And Optimise Management Of Its Staff Expenses
Inc42
·
1y ago
Medial
Fintech SaaS startup Zaggle has entered into an agreement with Hero MotoCorp to provide its employee expense management platform, Zaggle Save. Zaggle Save is a multi-purpose card that can replace food cards, fuel cards, travel vouchers, gift cards, and more. The agreement with Hero MotoCorp will be in effect from July 4, 2024, until the agreement is terminated according to mutually agreed terms.
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