SC Vacation Bench To Hear Satyendar Jain's Bail On May 26
Recently, a bench comprising Justice AS Bopanna and Justice Hima Kohli issued a notice on Jain's bail plea
The Aam Aadmi Party leader and former cabinet minister in the Delhi government, Satyendar Jain, has filed a plea seeking bail in a money laundering case. The Supreme Court is scheduled to hear this plea on May 26 before a vacation bench composed of Justice Aniruddha Bose and Justice Sanjay Karol.
Recently, a bench comprising Justice AS Bopanna and Justice Hima Kohli issued a notice on Jain's bail plea, which challenged the Delhi High Court's decision to deny him bail last year. Jain has been in custody since May 2022, awaiting trial.
The Central Bureau of Investigation (CBI) accused Jain and others in 2017 of laundering Rs 11.78 crore during 2010-2012 and Rs 4.63 crore during 2015-16, when he held a ministerial position in the Delhi government. The alleged money laundering was conducted through three companies: Paryas Infosolution, Indo Metalimpex, Akinchan Developers, and Mangalayatan Projects.
Jain purportedly provided money to Kolkata-based entry operators of various shell companies through his associates, who then allegedly redirected the funds as investments in Jain-linked companies after disguising them through shell companies. The case, initiated by the Directorate of Enforcement based on the CBI complaint, centers around Jain signing conveyance deeds for the acquisition of agricultural lands by Prayas Infosolutions in 2011 and 2012. The agency claims that the land was subsequently transferred to the family members of Jain's associates, who deny having knowledge of these transfers.
Last year in November, the trial court rejected the bail request of the former cabinet minister, stating that there was initial evidence indicating Jain's direct involvement in hiding illicit funds. The court found that Jain had allegedly provided cash to entry operators in Kolkata and subsequently transferred the cash to three companies through the sale of shares, aiming to portray the income of these companies as clean and untainted.
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