The Enforcement Directorate (ED) on Friday carried out raids at a number of places within the Delhi-NCR area in reference to the money-laundering probe towards Delhi minister Satyendar Jain. The company raided a minimum of 10 residential and enterprise complexes linked to Jain and his associates, together with premises linked to the promoters of a outstanding school-running enterprise group within the nationwide capital’s NCR area.
Jain is at the moment below judicial custody as a Delhi court docket is slated to pronounce its verdict on his bail plea on Saturday. On May 30, the ED had arrested the AAP minister below felony provisions of the Prevention of Money Laundering Act (PMLA). The central company has claimed to have taken maintain of Rs 2.85 crore price “unexplained” money and 133 gold cash on earlier raids since his arrest.
In April, the ED mentioned {that a} provisional order below PMLA was issued to “attach immovable properties worth Rs 4.81 crore belonging to Akinchan Developers Pvt. Ltd., Indo Metal Impex Pvt Ltd, Paryas Infosolutions Pvt. Ltd., Manglayatan Projects Pvt. Ltd., J.J. Ideal Estate Pvt. Ltd., Swati Jain, wife of Vaibhav Jain, Sushila Jain, wife of Ajit Prasad Jain, and Indu Jain, wife of Sunil Jain.”
The ED investigation thus far 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”.
“These amounts were utilised for direct purchase of land or for repayment of loan taken for the purchase of agricultural land in and around Delhi,” the ED had mentioned, as reported by information company PTI.
Earlier, the ED had mentioned that it tried investigating the matter with out arresting the Delhi minister at first, however Jain remained “evasive.” Jain’s counsel, nonetheless, has argued the AAP chief had cooperated each time he was summoned by the ED.
Delhi Chief Minister Arvind Kejriwal referred to as the ED case towards Jain as “false,” whereas calling his arrest “politically motivated.” On the opposite hand, the BJP has accused the Delhi CM of defending the corrupt as a substitute of appearing towards them.
The Delhi minister’s arrest relies on an investigation that dates again to 2015-16. The ED alleged that Jain was concerned in hawala transactions with a Kolkata-based agency.
Source: www.financialexpress.com”