Thursday, April 18, 2024

Satyendar Jain money laundering case: Delhi High Court issues notice to Enforcement Directorate on bail pleas of Ankush Jain, Vaibhav Jain 

The Delhi High Court on Monday sought response from the Enforcement Directorate (ED) on bail petitions moved by Ankush Jain and Vaibhav Jain, co-accused in the case registered against Delhi Minister Satyendar Jain under the Prevention of Money Laundering Act (PMLA).

The Single-Judge Bench of Justice Dinesh Kumar Sharma issued notice to ED and posted the matter for December 20 for further hearing in the case.

The national agency alleged that during the period between February 14, 2015 to May 31, 2017, an amount of Rs.4,60,83,500 was received as accommodation entries in three companies – M/s.Akinchan Developers Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd and M/s Manglayatan Developers/Projects Pvt Ltd. Besides, an accommodation entry of Rs 15,00,000 was received in M/s JJ Ideal Estate Pvt Ltd.
Stating that the companies allegedly had links with Jain, the ED said that a commission of Rs 5,32,935 was also paid to the entry operators. Rs.4,81,16,435 was calculated as the proceeds of crime, which were utilised for the purchase of land, payment of loans and for giving commission to Kolkata-based entry providers.
Both Vaibhav and Ankush had taken the benefit of Income Disclosure Scheme, 2016 by declaring the entire accommodation entries received in the said companies for the period from 2010-11 till 2015-16 as their unaccounted income, just to safeguard Satyendar Jain, it added.
ED said it had examined a Chartered Accountant of the said companies, who allegedly stated in his statement that both Vaibhav and Ankush were appointed Directors of the companies by backdating the documents to support their declaration made under the IDS, 2016.
While the Delhi Cabinet Minister was arrested on May 30, Vaibhav and Ankush were arrested on June 30 and were currently in judicial custody. All three were denied bail by the Rouse Avenue Court of the national capital on November 17. 
Earlier on December 1, Justice Sharma had issued notice on Satyendar Jain’s bail plea.


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