‘Money laundering’ case: Court accuses ED of linking AAP’s Jain to companies despite not being a director


Take cognizance of an indictment from the Enforcement Department (ED) filed against Satyendar Jain, leader of the PAAa court stopped the agency for mentioning that the accused companies were represented by Jain, even though he was not a director of any of the companies.

Special Judge Geetanjli Goel asked the ED how companies would associate with Jain just by naming him.

The judge noted that the accused companies, M/s Akinchan Developers Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd, M/s Manglayatan Developers Pvt Ltd and M/s JJ Ideal Estate Pvt Ltd, were represented by Jain, but the “even are certainly companies and it is not the case of ED that at present Jain is the director or has been appointed by the said companies to represent them”.

The ED told the court that an “amended memorandum will be filed to indicate by whom the companies may be represented”.

The court took notice of the ED indictment stating that “there is sufficient prima facie incriminating evidence regarding the defendant’s involvement” and issued summonses to Jain’s wife and co-defendant Poonam Jain and representatives of four companies accused in the case.

The ED, represented by Additional Solicitor General SV Raju and Special Prosecutor NK Matta, said Jain “acquired money through unfair means by committing the prescribed offences, while serving as a minister in the government of Delhi”.

“Subsequently, the said money was transferred via CA through hawala operators in Kolkata to the entry operators for overlaying cash transactions. Subsequently, the entry operators consciously and intentionally deposited the money into the bank accounts of different shell companies and eventually transferred the said amounts to the Jain companies for final integration into the mainstream financial system to claim/project the same as clean, uncontaminated money,” the ED submitted.

The agency argued that Jain and his companies/associates “used said money to purchase agricultural land and these acquired from the proceeds of crime generated by the commission of intended offenses are now claimed/projected to be d ‘clean/uncontaminated origin’.

ASG Raju told the court that Jain “orchestrated the whole operation and executed the accommodation entries for cash with full preparation and with a guilty mind. The above-mentioned operations/transactions and criminal association were carried out by Jain and his associates with full preparation and knowledge of the criminal nature of the activities”.

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