A Central Bureau of Investigation court on Saturday denied bail to Delhi minister Satyendar Jain in a money laundering case, Live Law reported. A detailed order is awaited.
Jain, a minister without a portfolio in the Arvind Kejriwal government, was arrested on May 30 under sections of the Prevention of Money Laundering Act. He has been remanded to Enforcement Directorate custody till June 27.
The money laundering case is based on a first information report filed by the Central Bureau of Investigation in 2017. The CBI has alleged that between February 2015 and May 2017, Jain acquired assets disproportionate to his income.
On Tuesday, the CBI court had reserved its order on the bail plea filed by Jain. His lawyer had argued that there was no possibility of the Aam Aadmi Party leader running away, tampering with the evidence or threatening witnesses. The lawyer also argued that between 2015 and 2017, Jain had resigned from the firms which have been named in the alleged wrongdoings.
The case against Jain
The Enforcement Directorate has alleged that five firms – Akinchan Developers Private Limited, Indo Metal Impex Private Limited, Paryas Infosolutions Private Limited, Manglayatan Projects Private Limited and JJ Ideal Estate Private Limited – are shell companies controlled by Jain and his relatives.
The agency claimed that money routed through the companies was used to buy land or repay loans taken for buying agricultural land in and around Delhi.
In April, the Enforcement Directorate had attached immovable property worth Rs 4.81 crore allegedly belonging to companies linked to Jain and his relatives.
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