New Delhi : The Enforcement Directorate (ED) on Friday said it has attached assets worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal as part of a money laundering investigation against him.
Three immovable properties of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement. Pawan Kant Munjal, it said, is the CMD and Chairman of Hero MotoCorp Ltd and the assets are worth about Rs 24.95 crore.
The ED had carried out raids against Munjal and his companies in August after filing a PMLA case against him that was filed after taking cognisance of a Directorate of Revenue Intelligence (DRI) charge sheet. The DRI chargesheet accused the Hero MotoCorp executive chairperson of taking foreign exchange or currency out of India illegally. "The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India," the ED said.
On Tuesday, the ED arrested former Jammu and Kashmir minister Lal Singh in connection with a money laundering case. Last month, the Enforcement Directorate conducted searches in Jammu and its adjoining areas as part of the money laundering probe against the educational trust of Lal Singh's wife Andotra and a former government official in connection with alleged irregularities in land purchase to set up the trust.
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