ED attaches Hero MotoCorp Exec Chairman Pawan Munjal's property worth Rs 25 cr
New Delhi: The Enforcement Directorate Friday said it has confiscated the assets of Hero MotoCorp Executive Chairman Pawan Kant Munjal worth Rs 24.95 crore as part of an ongoing money laundering probe, a media report said.
The provisional attachment carried out under the Prevention of Money Laundering Act (PMLA), includes three immovable properties situated in Delhi.
The Enforcement Directorate conducted raids in August after initiating a PMLA case against Munjal, following the filing of a Directorate of Revenue Intelligence (DRI) charge sheet.
The charge sheet alleged Munjal's involvement in the illegal transfer of foreign exchange/currency out of India.
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