In a significant development, the Delhi High Court has set aside the summons issued by the Enforcement Directorate (ED) against Pawan Kant Munjal, Chairman and Managing Director of Hero MotoCorp. This comes after the court had earlier stayed the ED’s action against Munjal.
Justice Manoj Kumar Ohri’s court passed the order on Munjal’s petition, which sought to quash the lower court’s order dated July 1, 2023, issuing summons against him for alleged offenses under the Customs Act. The court note that Munjal already acquitte by the Customs, Excise and Service Tax Appellate Tribunal on the same charges, a fact that not disclosed during the lower court proceedings.
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The ED had attached three of Munjal’s immovable properties in Delhi under the Prevention of Money Laundering Act and registered a case against him for allegedly taking foreign currency out of India. However, the Delhi High Court had earlier stayed the ED’s action, citing the stay on the complaint filed by the Directorate of Revenue Intelligence, which was the basis for the ED’s investigation.
The court clarified that the stay only applied to Munjal and that the ED could continue investigating others involved in the case. The ED had raided Munjal’s premises in Delhi and Gurugram as part of the money laundering investigation, which was based on a complaint filed by the Directorate of Revenue Intelligence.
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