New Delhi, Sep 23 (UNI) The Enforcement Directorate (ED) today said they had attached immovable properties worth Rs. 7.44 Crore, belonging to companies beneficially owned and controlled by Satyendar Kumar Jain, former Minister in the Government of Delhi.
ED lodged a PMLA case against Jain based on an FIR registered by the CBI under Section 13(2) read with 13(1)(e) of the PC Act against Jain, his wife Poonam Jain and others.
It was alleged that Jain, while posted and functioning as a Minister in the Government of Delhi, had acquired disproportionate assets during the period from February 14, 2015 to May 31, 2017.
The CBI filed a chargesheet on December 3, 2018 against Jain his wife and others.
As a result of investigation, the ED had earlier attached immovable properties worth Rs. 4.81 Crore belonging to companies beneficially owned and controlled by Jain on March 31, 2022, and filed a Prosecution Complaint (PC). The Court took cognizance of the PC on July 29, 2022.
During investigation by the ED, it was revealed that in November 2016, soon after demonetization, Ankush Jain and Vaibhav Jain, close associates and Benamis of Satyendar Kumar Jain, 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 Akinchan Developers Pvt. Ltd, Paryas Infosolutions Pvt. Ltd, Manglayatan Projects Pvt. Ltd, and Indo Metal Impex Pvt. Ltd., whereas these entities were beneficially owned and controlled by Jain.
The Income Tax Department and Delhi High Court held Ankush Jain and Vaibhav Jain to be Benami holders for Satyendar Kumar Jain. The Supreme Court dismissed their SLPs and Review Petitions rendering the finding final.
This information was shared by ED with the CBI under Section 66(2) of PMLA, 2002.
On the basis of the information shared, CBI further investigated the matter and subsequently filed a supplementary charge sheet, enhancing the disproportionate assets attributed to Satyendar Kumar Jain during his tenure as Minister in the Delhi Government
Subsequent to CBI’s Supplementary Charge sheet, ED has now 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 Crore (Rs. 4.81 Crore Rs. 7.44 Crore), representing 100 prcent of the disproportionate assets acquired by Satyendar Kumar Jain in the form of immovable properties held in companies beneficially owned and controlled by him. A Supplementary Prosecution Complaint will be filed in the matter soon under PMLA, 2002. Trial in this case is under progress before Rouse Avenue Court.
