Delhi HC stays proceedings in money laundering case against Hero Motocorp's Pawan Munjal
The Hindu
HC stays ED proceedings against Hero Motocorp chairman Pawan Kant Munjal in money laundering case. Court grants interim relief, noting similar stay order passed on predicate offence. ED free to proceed according to law. ED alleged Munjal used foreign currency for personal expenses abroad, attached assets worth Rs 24.95 crore. HC to hear matter on March 21.
The Delhi High Court on Friday stayed the proceedings against Hero Motocorp chairman Pawan Kant Munjal in a money laundering case being probed by the Enforcement Directorate (ED).
Justice Saurabh Banerjee issued notice to the investigating agency on Mr. Munjal's petition against the ED case and granted it time to file its reply.
While granting the interim relief, the judge observed that a similar stay order was recently passed on the predicate offence under the Customs Act and the petitioner has been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in that matter.
"Accordingly, there shall be a stay of proceedings under the ECIR," the court ordered.
The court clarified that the stay was in relation to the petitioner only and the ED was free to proceed further according to law.
The Directorate of Revenue Intelligence (DRI) had filed a prosecution complaint last year on charges of allegedly "carrying, attempting to export and illicit export of prohibited items, that is, foreign currency" against Mr. Munjal, a third party service provider company called SEMPL and individuals identified as Amit Bali, Hemant Dahiya, K R Raman and some others.
DRI, an investigation arm of the Central Board of Indirect Taxes and Customs (CBIC), filed a charge sheet before a Delhi court under section 135 of the Customs Act (evasion of duty or prohibitions) in the case.
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