New Delhi: 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).
Justice Saurabh Banerjee issued notice to the investigating agency on Munjal's petition against the ED case and granted it time to file its reply.
While granting the interim relief, the judge observed that a similar stay order was recently passed on the predicate offence under the Customs Act and the petitioner has been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in that matter.
"Accordingly, there shall be a stay of proceedings under the ECIR," the court ordered.
The court clarified that the stay was in relation to the petitioner only and the ED was free to proceed further according to law.
The matter would be heard next on March 21, 2024. (with Agency inputs)
