{"id":101079,"date":"2024-07-24T14:50:05","date_gmt":"2024-07-24T14:50:05","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/24\/relief-for-heromoto-chairman-pawan-munjal-as-delhi-high-court-quashes-dri-proceedings-against-him\/"},"modified":"2024-07-24T14:50:05","modified_gmt":"2024-07-24T14:50:05","slug":"relief-for-heromoto-chairman-pawan-munjal-as-delhi-high-court-quashes-dri-proceedings-against-him","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/24\/relief-for-heromoto-chairman-pawan-munjal-as-delhi-high-court-quashes-dri-proceedings-against-him\/","title":{"rendered":"Relief for HeroMoto chairman Pawan Munjal as Delhi High Court quashes DRI proceedings against him"},"content":{"rendered":"
\"Relief<\/div>\n
The Delhi High Court<\/a> on Wednesday quashed proceedings against Hero MotoCorp<\/a> Chairman Pawan Munjal in connection with a foreign currency case<\/a> registered by the Directorate of Revenue Intelligence in 2022. Justice Manoj Kumar Ohri \u201callowed\u201d the Munjal\u2019s 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\u2019s order that summoned Munjal in the case.A detailed order is awaited.<\/p>\n

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<\/a> money-laundering proceedings, which are based on the DRI case against the industrialist.<\/p>\n

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.<\/p>\n

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 expenses of P K Munjal”.<\/p>\n

ED alleged that the foreign exchange of about Rs 14 crore was drawn from authorised dealers by the event management company in the name of various employees and handed to Munjal\u2019s relationship manager, who carried the forex in cash\/card secretly for the personal Munjal\u2019s expenditure during his personal\/ business trips. The modus was adopted to override the limits of USD 2.5 Lakh per annum per person under the Liberalised Remittance Scheme, the ED had said in its statement.In November last year, the HC had stayed the proceedings initiated by DRI after the Munjal’s counsel argued that the Additional Chief Metropolitan Magistrate’s order was passed in a mechanical manner, without observing any reasons thereof, and without appreciating the fact that the revenue intelligence body concealed a judgement passed by the Customs, Excise and Service Tax Appellate Tribunal, which exonerated Munjal on the same set of facts which form part of the present complaint. The HC had also stayed the ED\u2019s proceedings against the Hero MotoCorp chairman.The ED had also provisionally attached immovable assets worth Rs 24.95 crores linked to Munjal. Amongst attached includes three immovable properties in Delhi. Earlier in August last year, the ED had seized valuables worth Rs 25 crore along with digital evidence.
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 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 \u201callowed\u201d the Munjal\u2019s appeal seeking quashing of all proceedings pending before the Additional Chief Metropolitan Magistrate, Patiala House Court. It also […]<\/p>\n","protected":false},"author":2,"featured_media":101080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-111992889,imgsize-94030.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[2874,1625,2921,2446,84710,84707,1837,84708,24783,84709,84706,437,84293,62370,10329,21822,6661],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/101079"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=101079"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/101079\/revisions"}],"predecessor-version":[{"id":101081,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/101079\/revisions\/101081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/101080"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=101079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=101079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=101079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}