Satyendra Jain
– Photo: Amar Ujala
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Rouse Avenue Court will give its verdict on the bail plea of ​​former Delhi Minister Satyendar Jain in the money laundering case on Friday. Jain was arrested by the ED on May 30, 2022, on charges of money laundering through four companies allegedly linked to him. He is currently in judicial custody.
Special Judge Rakesh Syal had reserved the order after hearing the arguments on the application from the accused and the ED. Jain's lawyer had told the court that no purpose would be served by keeping him in further custody.
The ED had opposed the application saying that if Jain was released, he could influence the witnesses. The ED case stems from an FIR registered against Jain by the Central Bureau of Investigation (CBI) in 2017 under the Prevention of Corruption Act.
The court had reserved the decision on 5 October. Satyendra Jain has challenged the order of issuing summons by the trial court in Delhi High Court. On July 25, the High Court had issued a notice to the ED on the petition of Satyendra Jain.
During the hearing in the High Court, lawyer Vivek Gurnani, appearing for the ED, had opposed issuing notice to the ED in this case, saying that summons was issued to Satyendra Jain only in July 2022, but when the ED opposed his default bail. Then he filed this petition.
Ignoring the arguments of ED, the High Court had ordered to issue the notice. During the hearing, senior lawyer N Hariharan, appearing for Satyendra Jain, had said that he will answer all the questions during the arguments.
Jain is accused of creating fake companies in 2009-10 and 2010-11. These companies include Akinchan Developers Private Limited, Indo Metal Impex Private Limited, Prayas Info Solutions Private Limited, Mangalayatan Projects Private Limited.
Apart from Satyendra Jain, the accused in this case by ED include his wife Poonam Jain, Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain, Ankush Jain, M/s Akinchan Developers Pvt. Ltd., M/s Prayas Info Solutions Pvt. Ltd., Mangalayatan Projects Pvt. Ltd. And JJ Ideal Estate Private Limited have been made accused. ED had arrested Satyendra Jain on 30 May 2022.
