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Judiciary

Delhi HC asks ED to respond on AAP leader Satyendar Jain's bail plea in money laundering case

By Shreya Agarwal      28 May, 2024 04:17 PM      0 Comments
Delhi HC asks ED to respond on AAP leader Satyendar Jains bail plea in money laundering case

NEW DELHI: The Delhi High Court today sought the Enforcement Directorate's (ED) reply on Aam Aadmi Party leader and former Minister Satyendar Kumar Jain's plea for default bail, in a 2017 money laundering case.

Jain had moved Court against a trial court order refusing him default bail. In his plea before the bench of Justice Swarana Kanta Sharma, he cited ED's failure to complete the investigation in all aspects within the period stipulated by law, arguing that the agency filed an incomplete complaint only to deprive Jain of his right to default bail under the Code of Criminal Procedure (CrPC).

The ED is directed to file a reply by July 9.

Jain has been in legal trouble since 2017 when the Central Bureau of Investigation (CBI) initiated Prevention of Corruption Act proceedings against him.

In 2018, the CBI issued charges against Jain, his wife, and four of his associates in the case.

Following CBI's chargesheet, the Enforcement Directorate (ED) also registered a Enforcement Case Information Report (ECIR) against Jain and two others.

ED also provisionally attached immovable properties worth Rs 4.81 crore belonging to Akinchan Developers Pvt Ltd, Indo Metal Impex Pvt Ltd, Paryas Infosolutions Pvt Ltd, Mangalayatan Projects Pvt Ltd, and JJ Ideal Estate Pvt Ltd - shell companies allegedly involved in laundering tainted cash amounts for Jain.

Jain faced charges of misusing his position as a Minister of Delhi Government to acquire disproportionate assets with the help of his family members and other persons.

The ED said that Jain "with the help of his family members and other persons, had acquired disproportionate assets during the period from 14.02.2015 to 31.05.2017, while he was functioning as Minister of Govt. NCT of Delhi, and had laundered tainted cash amounts through Kolkata-based shell companies”.

ED based its case on the arguments that the companies earned no income, and were controlled by Jain.

He was finally arrested in 2022.

Subsequently, Jain's pleas for bail were rejected by both the Special Court and the High Court, noting that his "conduct in custody" indicated that there is enough potential for him to tamper with evidence.

Later, the Supreme Court also rejected Jain’s appeal against the High Court’s order, directing him to surrender before the Special Court.

Importantly, earlier the High Court had noted that Jain was involved in concealing the proceeds of crime.

He was found to have given cash to Kolkata-based entry operators. This cash was brought into the 4 shell companies - Mangalayatan Developers/Projects Pvt Ltd, Akinchan Developers Pvt Ltd, and Paryas Infosolutions Pvt Ltd - against the sale of shares.



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