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
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.
It initiated PMLA investigations based on the Prosecution Complaint filed by Directorate of Revenue intelligence (DRI) under sections 135 of the Customs Act before CMM, New Delhi for carrying, attempting to export and illicit export of prohibited items i.e. foreign currency, against Munjal, SEMPL, Amit Bali, Hemant Dahiya, K.R. Raman and others
The SEMPL had allegedly illegally exported foreign currency equivalent to Rs 54 crore approx. to various countries during the period 2014-2015 to 2018-2019 which was ultimately used for personal expenses of Munjal. The ED investigation revealed that SEMPL got issued foreign exchange to the tune of Rs 14 crore approx. in the name of its employees Dahiya, Mudit Aggarwal, Amit Makker, Gautam Kumar, Vikram Bajaj and Ketan Kakkar over and above the annual permissible limit of $2,50,000 in various financial years.
Further, SEMPL has also drawn foreign exchange, travel forex card in huge amount in the name of other employees, who didn’t even travel abroad. Investigation revealed that one of the key associate of Munjal managed to illegally export approximately Rs 40 crore worth of foreign currency for meeting the expenses of Munjal during his personal or business foreign trips.
Further investigation into the matter is on.
–Starvision News Desk