The Enforcement Directorate (ED) has confiscated assets worth Rs 50 crore from Hero MotoCorp Chairman Pawan Kant Munjal in a money laundering investigation. The seized assets include three properties in Delhi valued at Rs 25 crore. Munjal is accused of violating Reserve Bank of India’s norms by unlawfully using Rs 54 crore in foreign currency and valuables abroad for personal expenses. Despite a recent Delhi High Court stay on proceedings related to undisclosed foreign currency, ED asserts its case based on evidence seized during earlier searches. The investigation implicates Munjal for illicitly taking foreign exchange out of India.
Unraveling Financial Tangles: ED Seizes Hero MotoCorp Chairman’s Assets in Money Laundering Probe
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