Delhi High Court quashes summons to Hero Motocorp chairman Pawan Munjal

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Delhi High Court quashes summons to Hero Motocorp chairman Pawan Munjal - Business Standard

Quick Summary:

Additionally, the agency alleged that SEMPL drew foreign exchange and travel forex cards in large amounts in the names of other employees who did not travel abroad.

The high court stayed the proceedings relating to foreign currency lodged against Munjal by the DRI in November last year.

The ED alleged that SEMPL "illegally exported foreign currency equivalent to about ₹54 crore to various countries from 2014-2015 to 2018-2019, which was ultimately used for the personal expenses of P.K.Munjal.