Stay updated with breaking news from Salt Experience. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Delhi High Court on Friday stayed the proceedings against Hero Motocorp chairman Pawan Kant Munjal in a money laundering case being probed by the Enforcement Directorate (ED).
Pawan Munjal News: The total value of seizure and attachment stands at approximately Rs 50 crore, the investigating agency said.
The Delhi High Court has stayed proceedings against Hero Motocorp Chairman Pawan Kant Munjal by the Directorate of Revenue Intelligence (DRI). The court noted that Munjal had been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) on the same set of facts, which was not disclosed before the trial court.
The federal agency had on Tuesday raided the businessman’s residence and offices in Delhi and Gurugram, apart from some other entities as part of a money laundering investigation | Latest News India
Pawan Munjal: It said in a statement that a "third party service provider" company, identified as Salt Experience and Management Pvt. LTd. (SEMPL), "illegally exported foreign currency equivalent to about INR 54 crore to various countries during the period 2014-2015 to 2018-2019 which was ultimately used for personal expenses of P K Munjal."