Delhi Minister Satyendar Jain To Remain In Jail As Court Reserves Order On Bail Plea

Delhi minister Satyendar Jain was arrested on May 30 in the money laundering case. He was sent to judicial custody till June 27

By Subhasish Dutta
Tue, 14 Jun 2022 03:58 PM IST
Minute Read
Delhi Minister Satyendar Jain To Remain In Jail As Court Reserves Order On Bail Plea
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New Delhi | Jagran News Desk: Delhi Minister Satyendar Jain, arrested by the Enforcement Directorate in a money laundering case, will remain in jail till June 18 after a Delhi court on Tuesday reserved order on his bail plea.

Special CBI Judge Geetanjali Goel reserved the order after a long hearing. The court is likely to pronounce the order on June 18, news agency ANI reported.

The ED arrested Jain on May 30. He was sent to judicial custody on Monday till June 27.

Senior advocate N Hariharan, representing Satyendar Jain, submitted that his client is in judicial custody after the interrogation of 13 days. Any case of money laundering is not made out against him as the legal requirements are not fulfilled.

"There is no possibility of Jain's running away. He went out of India during the investigation and come back. There is no possibility of tampering with the evidence. And lastly, there is no complaint of threats to witnesses. Agency has registered the statement of witnesses. He also had appeared before ED 7 times and his statements were recorded," Hariharan said.

Jain's counsel also submitted that the land was purchased by the companies. Those companies were not controlled by Jain as he had a very small share. Companies and shareholders are separate entities. The property of the company is not considered as the property of shareholders.

"The trust about which ED is talking about, my client had resigned from them before check period of 2015-2017. He has nothing to do with those trusts. Apart from that, he is suffering from sleep apnea," he added.

Meanwhile, Additional Solicitor General (ASG) SV Raju opposed the bail saying that the conduct of Satyender Jain as a public servant who is indulged in money laundering hawala channel did not make a case for granting him bail. He is influential, he may influence the witnesses as the investigation is still going on.

ASG submitted that Jain had not cooperated in the investigation. His answers were always evasive. He denied the connection with the trust. When confronted with documents he said he doesn't remember as his memory has been affected post-COVID.

SV Raju also submitted that the money laundering was done under the corporate veil of companies that Jain had controlled. Vaibhav Jain and Ankush Jain were made directors in those companies. 

There is evidence that the accommodation entries were made in two trusts Lala Sher Singh and Jindal trust. Jain was connected with these trusts but he did not disclose this fact at first instance, ASG submitted.

The court asked the ASG, "whether any accommodation entries in Lala Sher Singh trust during the check period. To this, he replied we are finding out.

The court also asked, "how much amount out 4.81 crore is used for the purchase of land and share, etc."

The prosecution said it is beyond that. The conspiracy was hatched in 2010.

He also said there is evidence that meetings were held at the office of CA J P Mohta and these were attended by Rajendra Bansal who was from Kolkata. The accommodation entries were made by Kolkata-based companies on a commission basis.

The amount of money laundered is 17 crores. The investigation is still going in this regard.

Vaibhav and Ankush Jain were his benamidars, ASG submitted.

Earlier ED had submitted, "a large amount of cash found from the benamidars. Rs 2.85 crores plus 1.8 kgs of gold have been recovered from a jeweller during searches."

The Defence counsel submitted that the alleged money laundering offence was finished at the moment when the Agricultural land was attached by the ED.

ASG had submitted a document before the court. The court said, " This document has been signed by Jain as president."

Jain was arrested on May 30 in the money laundering case connected with the disproportionate asset (DA) case registered by CBI.

(With ANI Inputs)

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