SC denies Satyendra Jain's bail plea, asks him to surrender
The Supreme Court on Monday rejected the bail application of Satyendar Jain, a former Delhi minister. The court asked him to surrender immediately in connection with a money laundering case. Jain was arrested in May 2022 for allegedly abusing his ministerial power to accumulate disproportionate assets. His arrest prompted the Enforcement Directorate (ED) to initiate an investigation into money laundering allegations tied to three companies purportedly linked to him.
Why does this story matter?
The ED arrested Jain on money laundering charges in connection with a case related to hawala transactions between February 2015 and May 2017. According to the agency, when Jain was a minister, firms allegedly owned and controlled by him illegally received Rs. 4.81 crore through the hawala network from shell companies. The case was first filed by the Central Bureau of Investigation (CBI) and later the ED also started its probe.
Courts dismiss health grounds as basis for extending bail
Advocate Vivek Jain, representing Jain, sought an extension for his client's surrender, citing health issues. However, the court dismissed the plea and upheld its previous order. Earlier, Jain had been granted bail on health grounds in May 2023 following a fall in a prison bathroom that necessitated spinal surgery on July 21 of the same year. The SC has now ordered him to surrender without delay.
Jain linked to companies accused in money laundering
The ED alleged that Jain exerted control over three companies implicated in the money laundering case through his wife, Poonam Jain, who served as director. The ED also indicated that two other accused, Vaibhav Jain and Ankush Jain were significant shareholders and directors of these companies. In response, Senior Advocate Abhishek Manu Singhvi, defending Jain, contended that his client did not have control over these companies' finances.
ED confiscated assets worth Rs. 4.60 crore related to case
Moreover, the ED has claimed to have confiscated alleged crime proceeds worth Rs. 4.60 crore connected with the case. The ED had previously attached properties valued at Rs. 4.81 crore in April 2022, owned by Jain's family and companies that were "beneficially owned and controlled" by him. Jain has consistently refuted these allegations, asserting that he did not manage the finances of the implicated companies.
Jain's prior efforts to obtain bail prove unfruitful
Jain had previously sought relief from the SC after the Delhi High Court denied his regular bail application in April 2023. The apex court then extended his temporary bail until January 8, based on health grounds. However, the extension was contested by Jain himself when he petitioned the SC against the Delhi High Court's order rejecting his regular bail application. Despite these efforts, his most recent request for bail has been turned down by the SC.
