A team of the Directorate of Enforcement (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, under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The anti-money laundering agency had initiated investigation against Jain, his wife and others on the basis of a FIR registered by Central Bureau of Investigation (CBI) on August 24, 2017 wherein it was alleged that Jain, while posted and functioning as a Minister in Delhi government of Delhi, had acquired disproportionate assets during the period from February 14, 2015 to May 31, 2017.
The CBI had filed its charge sheet on December 3, 2018 against Jain, his wife, and others.
According to officials, following the probe, the ED had earlier provisionally attached immovable properties worth Rs. 4.81 crore belonging to companies beneficially owned and controlled by the former minister on March 31, 2022, and filed a Prosecution Complaint (PC) on July 27, 2022.
The court took cognizance of the PC in July, 2022.
The ED probe revealed that in November 2016, soon after demonetization, Ankush Jain and Vaibhav Jain, close associates (Benamis) of Satyendar Jain, allegedly deposited Rs. 7.44 Crore in cash in Bank of Baroda, Bhogal Branch, as advance tax under the Income Disclosure Scheme (IDS), 2016. Under IDS, they claimed beneficial ownership of income/assets of Rs 16.53 crore received between 2011–2016 in the accounts of private firms, whereas these entities were beneficially owned and controlled by the former Delhi minister.
The IT Department and the court held Ankush Jain and Vaibhav Jain to be (Benami) holders for Satyendar Jain, while the apex court dismissed their SLPs and Review Petitions, rendering the finding final.
This information was shared by the ED with the CBI under Section 66(2) of PMLA, 2002, and on the basis of the information shared, the CBI has further investigated the matter and has subsequently filed a supplementary charge sheet, enhancing the disproportionate assets attributed to Jain during his tenure as Minister in Delhi government.
Subsequent to CBI’s supplementary charge sheet, the ED has identified and attached immovable properties worth Rs. 7.44 Crore. Thus, the total Proceeds of Crime attached so far in this matter by ED stand at Rs 12.25.
According to officials, a supplementary PC will be filed in the matter soon under PMLA, 2002, and the trial in this case is under progress before the concerned special court.