New Delhi (ILNS): The Supreme Court bench of Chief Justice S. A. Bobde and Justices A. S. Bopanna and V. Ramasubramanian today asked for the bail appeal of hawala operator Naresh Jain to be listed before Justice SK Kaul, whose court is dealing with a connected matter.
The bench today was hearing the bail plea of Hawala Operator Naresh Jain who, along with others, have been accused of illegal money transaction worth Rs 565 crores by incorporating 450 Indian shell firms and 104 overseas entities to carry out transnational hawala operations.
On September 1, Jain was arrested by the Enforcement Directorate (ED). He has been accused of controlling hundreds of shell companies and nearly a thousand bank accounts in India and overseas. Earlier this month the ED had alleged that Naresh Jain and his accomplices ‘generated’ black money worth Rs 565 crores from their network.