ED questions Hero Motocorp CMD

New Delhi: Hero Motocorp Ltd and Hero Fincorp Ltd CMD Pawan Munjal was on Monday questioned by the Enforcement Directorate (ED) in connection with a Prevention of Money Laundering case.

Munjal has been accused by the anti-money laundering agency for sending Rs 54 crore in foreign currency abroad during the period of 2014-15 to 2018-19.

Additionally, there are allegations of taking Rs 40 crore foreign currency abroad by a close associate of Munjal.

Munjal, called to join the investigation, reached the ED’s headquarters on Monday morning and joined the questioning at around 11 a.m.

The ED had, in August, raided 12 locations belonging to Munjal and employees of Salt Experience Management Pvt Ltd and seized jewellery, and foreign currency, valued at Rs 25 crore in connection with a PMLA case.