The Enforcement Directorate on Friday alleged that Hero MotoCorp executive chairperson Pawan Kant Munjal used foreign currency issued in the name of others for his personal expenditure abroad to "override" RBI rules and attached his assets worth Rs 24.95 crore as part of a money laundering investigation. Three immovable properties (in the form of lands) of Munjal located in Delhi have been provisionally attached under the provisions of the Prevention of Money Laundering Act (PMLA), the central agency said in a statement.
India's richest businessman, Mukesh Ambani is ranked at 33 with a salary of Rs 15 crore (Rs 150 million) annually.
Domestic motorcycle market leader Hero Honda Motors on Monday said it would foray into scooter manufacturing and launch two motorcycle models this fiscal.
Bike market leader Hero Honda has chalked out a Rs 320 crore (Rs 3.2 billion) investment plan for 2006, which includes about Rs 250 crore (Rs 2.5 billion) for setting up a third plant, Pawan Kant Munjal, managing director said.\n
India's biggest motorcycle maker Hero Honda Motors said on Monday that it would roll out a number of variants of its bikes soon and is expecting double digit sales growth this fiscal.
Media tycoon Kalanithi Maran and his wife Kavery Kalanithi have retained the top two slots among the highly paid executives in the country.
Impact of the slowdown is most visible among promoter/owner-CEOs
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
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