Hearing was held today in Rouse Avenue Court on the interim bail petition filed by accused Vaibhav Jain in the money laundering case related to Satyendra Jain. Where the special court reserved its decision on the interim bail plea of Vaibhav Jain, an associate of former minister Satyendar Jain, arrested in a money laundering case related to excise policy. Special Judge Kaveri Baweja of Rouse Avenue Court, after hearing all the parties, said that she will give her verdict on this issue on April 29. The judge has also continued the hearing on framing of charges against Satyendar Jain and will now hold the next hearing on May 7.
Accused of creating many shell companies
Satyendar Jain’s lawyer Dr Sushil Gupta has called ED’s allegations baseless and said that there is no evidence against him on the basis of which charges can be framed against him. In April last year, the ED had attached immovable properties worth Rs 4.81 crore of Jain’s family and companies under the Prevention of Money Laundering Act, 2002. Jain is accused of creating several shell companies in Delhi and also laundering black money worth Rs 16.39 crore through 54 shell companies of three Kolkata-based hawala operators.
ED had arrested Jain in connection with a case based on the CBI FIR registered against him in 2017 under the Prevention of Corruption Act. Jain is accused of money laundering through four companies allegedly linked to him. The CBI had filed a chargesheet against Jain in the disproportionate assets case for allegedly amassing assets worth Rs 1.47 crore. Later, ED had attached assets worth Rs 4.81 crore in a money laundering case.
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