Report of investigation into Affairs of M/s. Salt Experiences and Management Private Limited (SEMPL) and M/s. Hero MotoCorp Limited under examination

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.