Why Did the ED Seize Assets Worth Rs 7.44 Crore Linked to Satyendar Jain?
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Synopsis
The Enforcement Directorate has taken significant action by provisionally attaching assets valued at Rs 7.44 crore belonging to former Delhi minister Satyendar Kumar Jain. This investigation is part of a larger probe into alleged money laundering activities linked to Jain and his associates.
Key Takeaways
- The ED has seized assets worth Rs 7.44 crore linked to Satyendar Kumar Jain.
- The action is based on the Prevention of Money Laundering Act, 2002.
- The case originated from a CBI FIR filed in 2017.
- Additional properties worth Rs 7.44 crore have now been attached.
- The trial is ongoing in New Delhi.
New Delhi, Sep 23 (NationPress) The Enforcement Directorate (ED) has provisionally attached immovable properties valued at Rs 7.44 crore that are owned and controlled by former Delhi minister Satyendar Kumar Jain. This action took place on September 15 under the Prevention of Money Laundering Act (PMLA), 2002.
The ED's investigation stems from a CBI FIR lodged in August 2017 against Jain, his wife Poonam Jain, and others, accusing them of accumulating disproportionate assets between February 2015 and May 2017. The CBI submitted its chargesheet in December 2018.
Previously, on March 31, 2022, the ED had attached assets worth Rs 4.81 crore related to the same case. A prosecution complaint was filed in July 2022, which is currently being considered by the court.
“Investigations indicated that in November 2016, shortly after demonetization, Jain’s close associates Ankush Jain and Vaibhav Jain deposited Rs 7.44 crore in cash at Bank of Baroda, Bhogal branch, under the Income Disclosure Scheme (IDS),” the ED stated in a press release.
“Under the IDS, they asserted beneficial ownership of income/assets totaling Rs 16.53 crore received from 2011 to 2016 in the accounts of M/s Akinchan Developers Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd, M/s Manglayatan Projects Pvt Ltd, and M/s Indo Metal Impex Pvt Ltd, which were beneficially owned and controlled by Satyendar Kumar Jain,” the statement continued.
The Income Tax Department and the Delhi High Court identified Ankush and Vaibhav Jain as benami holders for Jain. Their appeals and review petitions were later dismissed by the Supreme Court.
“Based on the information provided, the CBI has further investigated the case and filed a supplementary chargesheet, increasing the disproportionate assets attributed to Satyendar Kumar Jain during his term as Minister in the Delhi Government,” it noted.
As a result, the ED has now attached additional properties worth Rs 7.44 crore, bringing the total amount of “proceeds of crime” identified so far to Rs 12.25 crore.
The ED confirmed, “A Supplementary Prosecution Complaint will be lodged soon under PMLA, 2002.”
It is important to mention that the trial in this case is currently ongoing at the Rouse Avenue Court, New Delhi.
Point of View
It is crucial to approach this situation with an unbiased lens. The ongoing investigations by the ED underscore the importance of accountability in public office. The legal proceedings will reveal the extent of any wrongdoing, and it is vital for the justice system to uphold its integrity throughout this process.
NationPress
23/09/2025
Frequently Asked Questions
What assets were seized by the ED?
The Enforcement Directorate provisionally attached immovable properties worth Rs 7.44 crore linked to companies owned by Satyendar Kumar Jain.
What is the basis for the ED's actions?
The ED's actions are based on allegations of disproportionate assets amassed by Jain during his tenure as Minister in the Delhi Government.
What is the PMLA?
The Prevention of Money Laundering Act (PMLA) is legislation in India aimed at preventing money laundering and related offenses.
What previous actions had the ED taken in this case?
Earlier, the ED attached assets worth Rs 4.81 crore related to the same investigation and filed a prosecution complaint in July 2022.
Is there an ongoing trial related to this case?
Yes, the trial is ongoing at the Rouse Avenue Court in New Delhi.
