The Enforcement Directorate (ED) has provisionally attached three immovable properties worth about ₹24.95 crores belonging to Pawan Kant Munjal, chairman-cum-managing director of Hero MotoCorp Limited.
The ED probe is based on a prosecution complaint filed by the Directorate of Revenue Intelligence (DRI) against Mr. Munjal and others for allegedly taking foreign exchange/currency equivalent to ₹54 crores out of India illegally.
As alleged, the foreign exchange was issued in the name of other persons and used by the accused for his personal expenditure abroad.
The agency had earlier conducted searches during which it seized valuables worth about ₹25 crore, along with digital and documentary evidence.
