Sunday, February 5, 2023

Money laundering: Delhi High Court seeks response from Enforcement Directorate on bail plea of Satyendar Jain

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The Delhi High Court has issued notice to the Enforcement Directorate (ED) on bail plea of Delhi Minister Satyendar Jain in relation to a case filed against him by the agency under the Prevention of Money Laundering Act (PMLA).

The Single-judge Justice bench of Dinesh Kumar Sharma has instructed the agency to file its response in two weeks.

The Court has also listed this matter for further hearing on December 20.

The former minister Jain had approached Delhi High Court challenging a trial court order of November 17 that denied him bail.

Satyender Jain was arrested by the ED in May 2022 on allegations of money laundering.

Jain in his bail plea, had told that even the special judge gave a finding in his favour that he never had one-third shareholding in companies involved in transactions.

This demolished the entire case of the Central Bureau of Investigation (CBI) case which is the predicate case for the ED

The counsel of Jain also argued on the point that even if allegations are considered the notional amount attributable to Jain is ₹59 lakh,for which entitled to bail as per Section 45 of the Prevention of Money Laundering Act (PMLA).

The ED has alleged that during 2015 and 2016, when Jain was a public servant, he owned companies “beneficially owned and controlled by him” received accommodation entries amounting to ₹4.81 crore from shell companies against the cash transferred to Kolkata-based entry operators through a hawala route.

Special judge Vikas Dhull while denying him bail, had said that Jain was not entitled to the benefit of bail with respect to the twin conditions under Section 45 of the PMLA.

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