Corporate tax lawyer HP Ranina has informed that the I-T Department may quiz Honda on its recent discounted stake sale. The promoter firm Hero Investments has decided to buy 26% stake from Honda Motor. The deal has been finalized for Rs 739.97 per share.

But the real issue was that there was a huge 50% discount to current market price. It has surprised the corporate tax lawyer HP Ranina. He has said that the Income-Tax department may look forward to find the real cause behind this decision as the move seems quite suspicious. He has also added that the I-T department will question the company on this discounted stake sales.

He has said this in an interview with CNBC-TV18. As per Ranina, both the parties need to be very much clear and transparent about the stake hold. The share price of the firm and its issues need to be taken care quite carefully. The Hero Group need to clarify the investors that how they have made the decision to go for such a discounted price.