The Enforcement Directorate conducted raids against Pawan Munjal, the Executive Chairperson of Hero Motocorp, and others as part of a money laundering investigation. The searches took place at locations in Delhi and Gurugram under the provisions of the Prevention of Money Laundering Act (PMLA). The investigation was initiated based on a complaint filed by the Directorate of Revenue Intelligence (DRI) against an individual allegedly associated with Munjal, who was under scrutiny for carrying undeclared foreign currency. In March of the previous year, the Income Tax Department had also conducted raids on Munjal and Hero Motorcorp as part of a tax evasion probe. Hero MotoCorp is India’s largest two-wheeler manufacturer and has maintained its position as the world’s largest in terms of unit volume sales for 20 consecutive years. The company operates in 40 countries across Asia, Africa, and South and Central America.
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