ED attaches assets worth Rs 24.95 cr of Hero Moto’s Pawan Munjal in money laundering probe
Enforcement Directorate has attached three immovable properties worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal attached as part of money laundering probe, the federal agency said on Friday.
The ED said that the total value of seizure and attachments now stands approximately at Rs 50 crore.
«The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India,» the ED said.
A First Information Report (FIR) was filed in October on a complaint alleging forgery, falsification of accounts, criminal conspiracy, and cheating by certain officials of Hero MotoCorp.
The FIR named Pawan Munjal, and Hero MotoCorp executives Vikram Kasbekar and Hari Gupta.
However, the company said in a statement on the exchanges that this case is an old matter and pertained to the year 2009-10 with a disgruntled service provider, Brains Logistics, a former vendor of Hero Honda Company, alleged that the accused colluded to and committed “the illegal acts of forgery, cheating and falsifying the books…and manufactured fake month-wise bills”. These bills, totalling Rs 5.95 crore for 2009 and 2010 were debited to the complainant, it alleged.
Separately, in August this year, the ED had conducted searches on Munjal and some others as part of an investigation into an alleged money laundering case.
The searches were carried out at the residential and business premises of Munjal in Delhi and Gurgaon, and some linked entities.
In a statement, the company had at the time said, “Officials from the Enforcement Directorate (ED) today visited two of our offices in Delhi and Gurugram and the residence of our executive chairman Dr Pawan Munjal.
