The Delhi High Court on Monday sought the response of the Enforcement Directorate (ED) on the bail pleas of two accused in a money laundering case in which Delhi minister Satyendar Jain is also facing prosecution. Justice Dinesh Kumar Sharma issued a notice to the ED and asked it to file its reply on the bail applications of Vaibhav Jain and Ankush Jain.
The high court listed the two bail pleas on December 20, along with Satyendar Jain’s bail application.
The two accused have challenged a trial court’s November 17 order by which their bail pleas were dismissed on grounds that they “knowingly” assisted Mr Jain in concealing the proceeds of crime and were “prima facie guilty” of money laundering.
The trial court had also dismissed the bail plea of Satyendar Jain, saying he was prima facie involved in concealing the “proceeds of crime”.
It had said “prima facie” Mr Jain was “actually involved in concealing the proceeds of crime by giving cash to Kolkata-based entry operators and thereafter, bringing the cash into three companies… against the sale of shares to show that income of these three companies was untainted one.”
“By this process, the proceeds of crime to the tune of 1/3rd of ₹ 4.61 crore has been laundered. Apart from that, Jain has also used the same modus operandi to convert his proceeds of crime of ₹ 15 lakh by receiving accommodation entries from Kolkata-based entry operators in his company by the name of J J Ideal Estate Pvt Ltd,” the court had noted.
“The money which had come into the account of three companies during the check period was not the income of the companies arising from any lawful business but in reality, the same was the accommodation entries obtained by Jain and other co-accused persons by providing cash to the Kolkata-based entry operators,” it had said.
The amount lying in the accounts of these three companies was in fact the amount belonging to Mr Jain and co-accused Vaibhav Jain and Ankush Jain, the court had noted.
It had observed that the cash provided by Mr Jain and the two co accused was to the tune of ₹ 4.61 crore during the check period.
The ED had arrested the accused in the money laundering case based on a CBI FIR lodged against Jain in 2017 under the Prevention of Corruption Act.
Mr Jain is accused of having laundered money through four companies allegedly linked to him.
The trial court had earlier taken cognisance of the prosecution complaint (charge sheet) filed by the ED against Mr Jain, his wife, and eight others, including the four firms, in connection with the money laundering case.
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