Examining probe report on SEMPL, Hero; no final conclusion yet: MCA

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Examining probe report on SEMPL, Hero; no final conclusion yet: MCA - Business Standard

Quick Summary:

The Ministry of Corporate Affairs (MCA) on Monday said it is examining the probe report on the affairs of Salt Experiences and Management Pvt Ltd (SEMPL) and Hero MotoCorp Ltd, and that no final conclusion should be drawn at this stage.

In a statement on Monday, the ministry said the investigation report into the affairs of the two companies is under examination and that "no final conclusion should be drawn in this matter at this stage".

In June 2023, an investigation was ordered into the affairs of SEMPL and Hero MotoCorp for alleged irregularities and the investigation was carried out through the Office of Regional Director (Northern Region) under the ministry.