NEW DELHI: The stock value of Hero MotoCorp declined 2.7% on Monday to shut at Rs 2,954 on the again of stories a couple of police grievance being filed towards the corporate and sure officers over a forgery allegation. The report (FIR) was filed by Brains Logistics – an erstwhile manpower companies supplier to Hero Moto- that accused the corporate of forgery and falsifying account books.
The firm denied the allegations. “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. 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.”
In Monday’s weak market, the stock opened flat however misplaced floor in mid-session because the information trickled in. In mid-session it was down about 3.5% at Rs 2,925 however recovered some floor earlier than the shut.
The firm denied the allegations. “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. 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.”
In Monday’s weak market, the stock opened flat however misplaced floor in mid-session because the information trickled in. In mid-session it was down about 3.5% at Rs 2,925 however recovered some floor earlier than the shut.
