Delhi Health Minister Satyendar Jain’s arrest by the Enforcement Directorate in a cash laundering case has emerged as the newest flashpoint between the Aam Aadmi Party and the BJP. While the Delhi Chief Minister has referred to as the ED case in opposition to Jain “completely fake and politically motivated”, the BJP has accused the AAP convenor of protecting the corrupt.
Jain has been arrested underneath felony sections of the Prevention of Money Laundering Act (PMLA) with the ED case being based mostly on a CBI FIR the place he was accused of getting laundered cash by means of 4 corporations allegedly linked to him.
Amid the political standoff, right here’s a refresher into the costs levelled by the Enforcement Directorate in opposition to Jain:
All in regards to the ED case in opposition to Jain
Jain’s arrest is predicated on an investigation that dates again to 2015-16. The ED alleged that Jain was concerned in hawala transactions with a Kolkata-based agency.
As per the ED chargesheet, the investigation revealed that in 2015-16, when Jain was working within the central public works division, 4 corporations “beneficially owned and controlled by him” obtained “accommodation entries (a term used for hawala transfers) to the tune of Rs 4.81 crore from shell companies against cash transferred to Kolkata-based entry operators through hawala route.”
In a press release issued final month, the ED had stated it issued a provisional order underneath the PMLA 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.”
“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 stated.
The individuals named within the attachment order are associates and members of the family of Jain, the officers stated.
The cash laundering case in opposition to the Delhi minister stems from an August 2017 FIR filed by the CBI in opposition to him and others on prices of alleged possession of disproportionate belongings (DA).
A cost sheet was filed by the CBI in December 2018 stating that the alleged DA was to the tune of Rs 1.47 crore, about 217 per cent greater than his recognized sources of earnings, throughout 2015-17.
The Income Tax Department had additionally probed these transactions and issued an order attaching “benami assets” allegedly linked to Jain.
What is PMLA Act?
PMLA, 2002 is an act to stop money-laundering. This permits the legislation enforcement companies to confiscate property acquired by means of unlawful actions together with cash laundering and hawala transactions. It was launched to battle in opposition to the felony offence of legalising the earnings from an unlawful supply.
What if crime underneath PMA is established?
If the costs underneath PMLA are established in opposition to the accused, the central company can seize or free property obtained with the proceeds of crime.
Any one who commits the offence of cash laundering shall be punishable with rigorous imprisonment for a minimal time period of three years and this will likely prolong as much as seven years.
Source: www.financialexpress.com”