The Enforcement Directorate (ED) on Tuesday conducted raids at the premises of Hero Motorcorp chairperson, Pawan Munjal and other officials of his company, people aware of the matter said.
The raids were conducted simultaneously in Delhi and Gurugram for alleged money laundering under the provisions of Prevention of Money Laundering Act (PMLA).
The federal agency did not immediately share details of the raid.
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News agencies reported that the ED probe is related to a complaint that the Department of Revenue Intelligence had filed against a person, allegedly close to Munjal, who was investigated for carrying undeclared foreign currency.
In March 2022, the income tax department conducted searches at offices of Hero Motorcorp over alleged tax evasion.
The department had also conducted searches at Munjal’s residence.
HT contacted Hero Motorcorp for a response and the copy will be updated when the company issues a statement.