ED seizes assets worth Rs 7.44 crore linked to Satyendar Jain, to file a complaint under PMLA soon

New Delhi: The Enforcement Directorate (ED) has provisionally attached immovable properties worth Rs 7.44 crore belonging to companies beneficially owned and controlled by former Delhi minister Satyendar Kumar Jain.

The action, carried out on September 15, comes under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

According to the ED, the case originates from a CBI FIR registered in August 2017 against Jain, his wife Poonam Jain, and others, alleging that the then Delhi minister amassed disproportionate assets between February 2015 and May 2017. The CBI filed its chargesheet in December 2018.

Earlier, on March 31, 2022, the ED had provisionally attached assets worth Rs 4.81 crore in the same matter. A prosecution complaint was filed in July 2022, which the court took cognisance of.

“Investigations revealed that in November 2016, soon after demonetisation, Jain’s close associates Ankush Jain and Vaibhav Jain deposited Rs 7.44 crore in cash at Bank of Baroda, Bhogal branch, under the Income Disclosure Scheme (IDS), the ED said in a press statement on Tuesday.

“Under IDS, they claimed beneficial ownership of income/assets of Rs 16.53 crore received between 2011-2016 in the accounts of M/s Akinchan Developers Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd, M/s Manglayatan Projects Pvt Ltd, and M/s Indo Metal Impex Pvt Ltd., whereas these entities were beneficially owned and controlled by Satyendar Kumar Jain,” it further said.

The Income Tax Department and the Delhi High Court held Ankush and Vaibhav Jain to be benami holders for Jain. The Supreme Court later dismissed their appeals and review petitions.

“On the basis of the information shared, CBI has further investigated the matter and has subsequently filed a supplementary charge sheet, enhancing the disproportionate assets attributed to Satyendar Kumar Jain during his tenure as Minister in the Delhi Government,” it noted.

Following this, the ED has now attached additional properties worth Rs 7.44 crore, taking the total “proceeds of crime” identified so far to Rs 12.25 crore.

According to the ED, “Supplementary Prosecution Complaint will be filed in the matter soon under PMLA, 2002.”

Notably, the trial in this case is in progress before the Rouse Avenue Court, New Delhi.

IANS