AAP leader Satyendra Jain
The difficulties of former Delhi government minister Satyendra Kumar Jain have increased once again. The ED has temporarily attached the benami property worth Rs 7.44 crore of former minister Satyendra Jain. This action has been taken under the Prevention of Money Laundering Act.
In fact, the investigation of ED is based on the FIR filed by CBI on 24 August 2017. It was alleged that Satyendra Jain made more assets than his income while being a minister (between February 2015 and May 2017).
Action has been taken before
The ED had earlier attached a property worth 4.81 crore of companies associated with Jains on 31 March 2022. On 27 July 2022, a charge sheet was filed in the court. The court also took cognizance of this.
Cash deposit and benami disclosure
Investigation revealed that immediately after demonetisation (in November 2016), Ankush Jain and Vaibhav Jain, close to Satyendra Jain, deposited Rs 7.44 crore in Bank of Baroda, Bhogal Branch in Delhi. He had paid this money as advance tax under the Income Disclosure Scheme (IDS).
He claimed that this money came from his four companies Akinachan Developers, Prayas Infosoluces, Mangalayatan Projects and Indo Metal Impact. But, the Income Tax Department and the courts admitted that these companies are actually Satyendra Jain and Ankush-Vibhav is only his benami.
Both the Income Tax Department and the Delhi High Court considered Jain’s colleagues as benami holders, and the Supreme Court also upheld this conclusion, rejecting their appeals.
Total assets worth 12.25 crores seized
The ED also gave this information to the CBI, on the basis of which the CBI filed a supplementary charge sheet and increased the figure of Jain’s benami property. Now the ED has attached 7.44 crores more assets. In this way, a total property worth Rs 12.25 crore has been attached so far.
ED is now going to file supplementary prosecution complicants in this case. At the same time, the hearing of the case is currently going on in the Rouse Avenue Court in New Delhi.
