The MCA had ordered the investigation in June 2023. For the December quarter, Hero MotoCorp reported a 12 percent year-on-year rise in net profit at Rs 1,203 crore. The company also achieved its highest-ever quarterly retail sales, driven by record festive-season demand. At 11.46 am, the Hero Motocorp share was trading at Rs 3,630.95 on the National Stock Exchange, down 0.59 percent from the previous close. The investigation stemmed from March 2022 tax searches at multiple premises linked to the company. The raids were part of a broader inquiry into alleged tax evasion, which raised concerns about potential financial mismanagement and governance violations. The probe report, which has been finalised and submitted to the ministry, doesn’t call for any further action, the sources said. “No further action has been suggested. Violation of corporate governance norms and fund diversion is not there in the findings of the report,\” said one of the sources.