Delhi Court denies bail to AAP Minister Satyendar Jain in money laundering case

In a massive development, Delhi's Rouse Avenue Court on Saturday denied bail to Aam Aadmi Party (AAP) leader Satyendar Jain in connection with a money laundering case being probed by the Enforcement Directorate (ED). The court had, on June 14, reserved the judgment on the bail plea of the Delhi Minister after listening to the argument of ED and defence counsel in the case. 

Interestingly, during the hearing of Jain's bail plea, the ED had argued that when questioned with hawala documents, the Delhi Minister claimed that his 'memory is weak' post-COVID, owing to which, he does not recall crucial details and facts pertaining to the Lala Sher Singh Jeevan Vigyan Trust. When the ED showed him a document wherein Jain's signature was recorded as the President, he claimed to not remember it either. The trust had allegedly provided accommodation entries for the transfer of land from a company beneficially owned by Satyendar Jain to family members of accomplices in order to alienate the property and hinder the process of confiscation.

Satyendar Jain arrested

The ED had launched a money-laundering probe based on an FIR registered by the Central Bureau of Investigation (CBI) against Jain and others under relevant sections of the Indian Penal Code (IPC) and the Prevention of Corruption Act. Probe documents allege that money laundering in the case took place through three hawala operators based in Kolkata.

The name of five paper companies' owned and controlled by Shri Jain with the help of Poonam Jain, his wife; Swati Jain, wife of Vaibhav Jain; Sushila Jain, wife of Ajit Prasad Jain; and Indu Jain, wife of Sunil Jain - Prayas Infosolutions Pvt. Ltd., Indo Metal Impext Pvt. Ltd., J.J. Ideal Estate Pvt. Ltd., Akinchan Developers Pvt. Ltd. and Mangalyatan Projects Pvt. Ltd. - all registered in Delhi, have also been mentioned in key case documents of ED and also in the I-T dept order. 

On May 30, Satyendar Jain was arrested following which, he was sent to ED custody till June 13. According to the ED, companies beneficially owned and controlled by him received accommodation entries to the tune of Rs.4.81 crore from shell companies against cash transferred to Kolkata-based entry operators. Moreover, these funds were purportedly utilized for the direct purchase of land or for the repayment of loans taken for the purchase of agricultural land in and around Delhi.