The Supreme Court on Monday denied bail petition by AAP leader and former Delhi Minister Satyendar Jain in a money laundering case. Directs him to surrender forthwith. The court also rejected bail plea of co-accused Ankush Jain.
In January, a bench of Justice Bela M Trivedi and Justice Pankaj Mithal had reserved verdict on the special leave petition (SLP) filed by Jain against the April 2023 order of the Delhi High Court.
Jain is facing probe under the Prevention of Money Laundering Act (PMLA).
In May 2022, the Enforcement Directorate (ED) arrested former Delhi minister Satyendar Jain in case of money laundering. Jain along with three others was accused of laundering money through three companies during 2010-12 and 2015-16.
In May 2023, the top court granted bail to Jain on medical grounds following which he was released from custody after one year in jail. Jain’s bail on medical grounds has been extended from time to time.
ED had contended that Jain had de facto control through his family members over the companies that were allegedly involved in a money laundering racket.
Jain who is also the former Delhi health minister has been accused of money laundering through four companies allegedly linked to him. Paryas Infosolution, Indo Metalimpex, Akinchan Developers and Mangalayatan Projects are those four companies.
The former Delhi Minister and AAP leader Jain has been accused of carrying out money transactions to Kolkata based entry operators of different shell companies for accommodation entries through his associates. It has been alleged that those associates then allegedly re-routed the money in the form of investment through shares in companies linked to Jain after layering them through shell companies.
Jain was taken into custody on May 30, 2022, but was granted interim bail by the apex court on medical grounds on May 26, 2023. The interim bail was then extended from time to time as the case remained pending in the court.
Senior Advocate Abhishek Manu Singhvi appeared for Jain and Additional Solicitor General SV Raju represented the Enforcement Directorate (ED) in the court. The ED arrested Jain on the basis of a FIR filed by the CBI against him in 2017 under the Prevention of Corruption Act.
