Delhi court takes cognisance of Enforcement Directorate case against Delhi Minister Satyendar Jain, others

A Delhi court on Friday took cognisance of the complaint filed by the Enforcement Directorate (ED) against Delhi Minister Satyendar Jain and others in a money laundering case [ED v. Satyendar Jain]..Special judge Geetanjali Goel prima facie found sufficient incriminating evidence against Jain on the money laundering charge."Looking to the material on record, it can be said that there is prima facie sufficient incriminating evidence about the involvement of the accused. Thus, cognizance of the offence under Section 3 of PMLA punishable under Section 4 of the Prevention of Money Laundering Act, 2002 is taken,” the order stated..The ED has alleged that cash money was routed to some Kolkata-based entry operators of different shell companies owned by Jain, through his employees or associates, for providing accommodation entries.These operators re-routed the money from Jain by investing in companies beneficially owned and controlled by him, by purchasing shares of the four companies.The shares of the said companies were purportedly purchased after layering the cash received through a number of shell companies. The money received back from the entry operators, in the form of share capital in these companies, was further used for purchasing agricultural land in Delhi, it was alleged..The Court accordingly summoned other accused persons namely, Poonam Jain, M/s Akinchan Developers Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd, M/s Manglayatan Developers Pvt Ltd and M/s JJ Ideal Estate Pvt Ltd Two other accused persons - Ajit Prasad Jain and Sunil Kumar Jain - were not arrested during the investigation and were present in court.“Considering that they were not arrested during investigation and happen to be present in court today, they are admitted to interim bail till the next date when appropriate bail applications may be filed on their behalf, on furnishing of personal bond in the sum of ₹1 lakh,” ordered the court.Jain and two others are currently in judicial custody..Earlier, the ED moved the Delhi High Court against an order of the special court allowing Jain to be medically examined at the Delhi government’s Lok Nayak Hospital. The High Court directed the lower court not to consider the medical report.Keeping in mind the direction and the next date of hearing before the High Court on August 17, the Special Court posted the hearing on Jain’s interim bail plea on August 20..The CBI had initially registered a case under Sections 13(2) (criminal misconduct by public servant) read with 13(e) (disproportionate assets) of the Prevention of Corruption Act, 1988. The case was registered on the allegation that Jain had acquired movable properties in the name of various persons between 2015 and 2017 (check period) which he could not satisfactorily account for.On April 5 this year, the ED, on the basis of its investigation into the money laundering aspect, provisionally attached immovable properties of Jain worth ₹4.81 crore..[Read Order]