Money-laundering case: Satyendar Jain's judicial custody extended till July 20

The Rouse Avenue Court of Delhi extended the judicial custody of Delhi Minister Satyendar Jain till July 20 in a moneylaundering caseThe court also sent Vaibhav Jain to judicial custody in the same case The Enforcement Directorate ED produced Vaibhav Jain before the court at the end of his remand period where Additional Session Judge Geetanjali Goel decided to send him into judicial custodyThe third accused Ankush Jain is already in judicial custody in the case The Enforcement Directorates case was represented by Advocate Zoheb Hossain and Advocate Naveen Kumar MattaAccording to the ED Ankush Jain and Vaibhav Jain are among those who assisted the Delhi Minister in the money laundering case In this case Satyendar Jain was arrested on 30 May 2022 Besides them Naveen Jain and Siddharth Jain Directors of Ram Prakash Jewellers Pvt Ltd G S Matharoo Chairman of Lala Sher Singh Jivan Vigyan Trust which runs Prudence Group of Schools Yogesh Kumar Jain Director in Ram Prakash Jewellers Pvt Ltd fatherinlaw of Ankush Jain and Lala Sher Singh Jivan Vigyan Trust are also on ED radar for assisting Satyendar Jain the ED informedThe ED on June 6 seized 285 crore cash and 133 gold coins weighing 180 kg from Satyendar Jains aides during its daylong raid conducted at various places across Delhi and the National Capital Region NCR The agency had also seized various incriminating documents and digital records during these raidsThe ED then said that the total movable assets were seized from an unexplained source and were found to be secreted in the raided premisesThe assets were seized during a search operation carried out under the Prevention of Money Laundering Act PMLA 2002 at the premises of Satyendar Jain his wife Poonam Jain and his accomplices and other persons who had either directly or indirectly assisted him or participated in the processes of money launderingED investigation in the case has revealed that one accomplice of Lala Sher Singh Jivan Vigyan Trust had provided accommodation entries for the transfer of land from a company beneficially owned by Satyendar Jain to family members of accomplices in order to alienate the property and to frustrate the process of confiscationThe ED had also initiated a moneylaundering investigation on the basis of a First Information Report registered by the Central Bureau of Investigation CBI on 24 August 2017 under Section 132 read with 131e of the Prevention of Corruption Act 1988 against Satyendar Jain Poonam Jain Ajit Prasad Jain Sunil Kumar Jain Vaibhav Jain and Ankush JainThe CBI filed a chargesheet on 3 December 2018 against Satyendar Kumar Jain Poonam Jain Ajit Prasad Jain Sunil Kumar Jain Vaibhav Jain and Ankush JainThe chargesheet mentioned that Satyendar Jain while holding the office as a Minister in the Government of Delhi during the period from 14 February 14 to 31 May 2017 had acquired assets which were disproportionate to his known sources of incomeThe CBI has accused Satyendar Kumar Jain and others of the commission of offences under the Prevention of Corruption Act 1988Jain was arrested after the ED attached immovable properties worth Rs 481 crore in April owned by the companies named Akinchan Developers Pvt Ltd Indo Metal Impex Pvt Ltd and others under the Prevention of Money Laundering Act 2002 in connection with the disproportionate asset and money laundering case registered Jain his wife Poonam Jain and othersThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever