Hero MotoCorp Limited has disclosed receiving an order from the Employees’ State Insurance Corporation (ESIC) dated September 3, 2026, resulting in a lien of approximately ₹4.80 crore being marked on some of the company’s bank accounts. The company stated that the amount under the order has been paid, but is taking appropriate steps, including filing appeals, as it deems the order unsustainable and believes it will have minimal impact on its operations or financials.
ESIC Order Results in Bank Account Lien
Hero MotoCorp Limited has informed stakeholders that it received an order on September 7, 2026, from the Employees’ State Insurance Corporation (ESIC), Gurugram, Haryana. This order, dated September 3, 2026, has resulted in a lien being marked on certain bank accounts of the company, affecting funds amounting to approximately ₹4.80 crore. The company has confirmed that the amount stipulated in the order has since been paid.
Company’s Response and Appeal Process
Despite the payment, Hero MotoCorp is actively pursuing further action. The company is in the process of taking appropriate steps, which include filing appeals with the relevant authorities. The management’s opinion is that the orders are unsustainable and are unlikely to cause any material impact on the company’s financial standing, overall operations, or other business activities.
Details of the ESIC Allegations
According to the disclosed details, ESIC’s action stems from allegations that Hero MotoCorp failed to settle outstanding arrears totaling approximately ₹3.19 crore. These arrears were reportedly linked to a Certificate No. 6900xxxxxxxxx0704, dated November 12, 2018. The total alleged liability, including interest, costs, and charges, amounted to the aforementioned ₹4.80 crore.
Source: BSE
