Hero Group

Hero Group AVP accused of fraud

Hero Group AVP accused of fraud

The associate vice-president (AVP) of Hero Corporate Services, Sanjay Gupta, has been accused of not only duping his employers but also for having attempting to cheat a couple of more accomplices within the company.

The police has enquired about both the Hero group employees for discovering their part in the scam. They have been sent on a long holiday by the company.

Hero group to buy stake from Honda group

Hero group to buy stake from Honda group

The joint venture between the Hero groups of Munjals and Honda group has been among the few most successful ventures. The Munjals are now planning to buy a 26% stake in the Hero group before Christmas by using a special purpose vehicle.

The deal will be valued at half the current market value or USD 1 billion. A bridge loan will be raised and thus a SPV will be created for the purpose of buying this stake, in India’s largest motorcycle manufacturer.

Hero Group pays to structure Honda's short exit price

Hero Group pays to structure Honda's short exit price

Hero Group is sold a 26 per cent risk of Honda to finish up its selling. It is given at a considerable discount to the market price. Still higher royalty payment has made a balance by till 2014.

Moreover it is happy pre-tax script said by the tax experts. Experts advised that Honda might not have to pay long-term capital and it will earn tax of 10 per cent on its venture sale and not 30 per cent.

Since 1984 it has been in India. There will be other rates in Japan if the Japanese auto major will have to cough as it is not clarified. It has its own tax system on capital gains.

Hero Group: Honda to Maintain Partnership with It

Hero Group: Honda to Maintain Partnership with It

Today, Hero Group brushed off rumors that its joint enterprise with Japanese auto giant, Honda, was not going to end since there was news of Honda planning an exit by selling its possessed 26% stake.

As per the report given by the media, whilst Honda was in plans to vend out 20% to another promoter, Munjal family of the Hero Group, it was looking at vending 6% of stake to KKR, which is private equity Company.

Daimler, Hero JV Receives Approval From Govt

The Union Cabinet on Thursday has given sanction to the Rs. 1,650-crore investment by Germany’s Daimler AG on its planned joint venture with the Hero group for manufacturing commercial vehicles.

Daimler will hold the major stake of 60% in the JV, which envisages a total equity infusion of Rs 2,750 crore by the partners.

The JV will design, create and sell commercial vehicles of above two tonnes for Indian plus abroad markets.