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    HomeBusinessHuge setback for Delhi Minister Satyendar Jain as Delhi court denies bail...

    Huge setback for Delhi Minister Satyendar Jain as Delhi court denies bail in money-laundering case

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    Last week, the central agency had seized Rs 2 crore of “unexplained” cash and 133 gold coins, weighing 1.8 kg on conduction similar raids across properties owned by Jain.

    A special CBI court on Saturday rejected the bail plea of Delhi Minister Satyendar Jain in connection with a money laundering case. This development comes a day after the Enforcement Directorate (ED) conducted raids on at least ten locations in the Delhi-NCR regions linked to Jain and his associates. The senior AAP leader was arrested on May 30 under the criminal sections of the Prevention of Money Laundering Act (PMLA) after the ED claimed that he was being evasive in his replies at the time of questioning.

    Last week, the central agency had seized Rs 2 crore of “unexplained” cash and 133 gold coins, weighing 1.8 kg on conduction similar raids across properties owned by Jain. Last month, the ED attached Rs 4.81 crore worth company and family assets “beneficially owned and controlled” by Jain in the “hawala transactions” case.

    So far, the ED probe has revealed that “during the period 2015-16, when Satyendar Kumar Jain was a public servant, the companies beneficially owned and controlled by him received accommodation entries to the tune of Rs 4.81 crore from shell (paper) companies against cash transferred to Kolkata-based entry operators through the hawala route.”

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