Pawan Kant Munjal
The Delhi High Court is set to resume its proceedings on March 21 regarding the money laundering case involving Hero MotoCorp Chairman Pawan Kant Munjal. This development comes after the High Court had previously stayed the proceedings against Munjal in the said case, which is being investigated by the Enforcement Directorate (ED).
In the previous hearing, the High Court granted a stay on the proceedings against Munjal, providing him with temporary relief in the ongoing investigation. The case stems from allegations made by the Directorate of Revenue Intelligence (DRI), which last year filed a prosecution complaint against Munjal and a third-party service provider company named SEMPL.
According to the DRI’s complaint, Munjal and SEMPL are accused of involvement in the carrying, attempted export, and illegal export of prohibited items, specifically foreign currency. The allegations suggest a breach of regulations governing currency export and raise concerns regarding potential money laundering activities.
The legal battle surrounding these allegations has garnered significant attention, given Munjal’s prominent position as the Chairman of Hero MotoCorp, one of India’s leading automobile manufacturers. Hero MotoCorp, under Munjal’s leadership, has been a key player in the country’s automotive industry, with a substantial market share and a widespread presence both domestically and internationally.
