The Enforcement Directorate (ED) on Tuesday conducted searches on the premises linked to Hero Motocorp Limited’s executive chairperson Pawan Munjal and others in connection with a money laundering case.
The listed company made a disclosure to the stock exchanges to this effect, saying: “Dear Sir(s), officials from the Enforcement Directorate today visited two of our offices in Delhi and Gurugram and the residence of our executive chairman Mr. Pawan Munjal. We continue to extend all cooperation to the agency.”
The agency is yet to make public the details of the case in which the searches have been carried out. It is learnt that the probe pertains to an investigation conducted by the Directorate of Revenue Intelligence with respect to foreign exchange.
