The Delhi High Court has put a stay on the Enforcement Directorate (ED) proceedings against Pawan Kant Munjal who is the Chairman of the Hero MotoCorp.
The interim order was passed by the bench Justice Saurabh Banerjee after finding that DRI (Directorate of Revenue Intelligence) had registered a case against Munjal which has already been stayed by the Court on November 3.
The Court made it clear the stay pertains to proceedings against Munjal.The court however said that the ED can proceed with its investigation against others accused.
The case will be heard next on March 21.
A prosecution complaint was filed against Munjal and some other individuals identified as Amit Bali, Hemant Dahiya, K R Raman by the DRI and a service provider called SEMPL who alleged their was involved in an attempt to export and illicit export of prohibited items, that is, foreign currency.
They were booked under Sections 135(1)(a), 135(1)(b) and 135(1)(c) read with 135(1)(i)(A) of the Customs Act, 1962.
As per the case based on the DRI, the Enforcement Directorate also booked Munjal and others under various provisions of the Prevention of Money Laundering Act (PMLA).
These ED proceedings have now been stayed by the High Court in so far as they relate to Munjal.