From Our Bureau
NEW DELHI: The Delhi High Court has stayed the proceedings relating to foreign currency registered against Hero Motocorp chairman Pawan Kant Munjal by the directorate of revenue intelligence (DRI).
It noted in an interim order that Munjal was exonerated by the customs, excise and service tax appellate tribunal on the same set of facts that were not disclosed before the trial court.
While hearing the petition of Munjal for quashing of a criminal complaint titled DRI against Salt Experience and Management Private Ltd, the High Court allowed Munjal’s pryer for interim protection from arrest and granted an interim protection on the ongoing proceedings before the Patiala House court.
The ED had seized Rs 25 crore worth of cash and jewellery in raids over Munjal assets two days ago.
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