Relief for HeroMoto chairman Pawan Munjal as Delhi High Court quashes DRI proceedings against him
Delhi High Court on Wednesday quashed proceedings against Hero MotoCorp Chairman Pawan Munjal in connection with a foreign currency case registered by the Directorate of Revenue Intelligence in 2022. Justice Manoj Kumar Ohri “allowed” the Munjal’s appeal seeking quashing of all proceedings pending before the Additional Chief Metropolitan Magistrate, Patiala House Court. It also set aside the Additional Chief Metropolitan Magistrate's July last year’s order that summoned Munjal in the case.
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A detailed order is awaited.
The decision is seen as a huge relief for Munjal as it will also have a bearing on the Munjal's petition against the Enforcement Directorate money-laundering proceedings, which are based on the DRI case against the industrialist.
DRI had filed a complaint for «carrying, attempting to export and illicit export of prohibited items, that is, foreign currency» against Munjal, a third-party service provider Salt Experiences & Management (SEMPL), individuals identified as Amit Bali, Hemant Dahiya, KR Raman and others.
The ED also registered a case the Prevention of Money Laundering Act (PMLA), which stemmed from the DRI charge sheet. The directorate had alleged SEMPL «illegally exported foreign currency equivalent to about Rs 54 crore to various countries during the period 2014-2015 to 2018-2019 which was ultimately used for personal
