International and Indian currencies and gold and diamond jewelry value about Rs 25 crore, other than “incriminating” paperwork, have been seized after raids on Hero MotoCorp govt chairperson Pawan Kant Munjal and a few others, the Enforcement Directorate stated on Wednesday.
The federal company raided the residences and places of work of the 69-year-old billionaire businessman, the promoter of India’s largest two-wheeler vehicles producer, in Delhi and neighbouring Gurugram other than that of another entities on Tuesday.
It stated in a press release {that a} “third get together service supplier” firm, recognized as Salt Expertise and Administration Pvt. LTd. (SEMPL), “illegally exported international foreign money equal to about Rs 54 crore to varied international locations through the interval 2014-2015 to 2018-2019 which was in the end used for private bills of P K Munjal.”
International and Indian currencies and gold and diamond jewelry value about Rs 25 crore other than “incriminating” paperwork have been seized from the residential and enterprise premises of Munjal, Hemant Dahiya, K.R. Raman, Hero MotoCorp Restricted and Hero Fincorp Restricted, it stated.
The cash laundering case being probed by the ED stems from a cost sheet of the Directorate of Income Intelligence (DRI), an investigation arm of the Central Board of Oblique Taxes and Customs (CBIC).
