Satyendra Jain's bail application to come up for hearing tomorrow

The Enforcement Directorate (ED) had arrested Jain on May 30, in connection with the violation of provisions of PMLA, pertaining to disproportionate assets.

On Jun 9, the court had granted ED the custody of Jain till June 13, after the national agency submitted that they needed to confront Jain with the people whose houses were raided.

As per ED, it has conducted raids at the premises belonging to Ankush Jain, Vaibhav Jain, Naveen Jain and Siddharth Jain, Directors of Ram Prakash Jewellers Pvt Ltd; GS 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; father-in-law of Ankush Jain and Lala Sher Singh Jivan Vigyan Trust.

During the search, various incriminating documents and digital records were seized.

The Central Bureau of Investigation had registered a case in 2017 under Section 13(2) read with 13(1)(e) of the PC Act, 1988 against Jain, his wife Poonam Jain, Ajit Prasad Jain, Sunil Kumar Jain, Vaibhav Jain and Ankush Jain, following which, the ED had initiated investigation into the case.

The CBI filed a charge sheet on Dec 3, 2018 against Jain, his wife Poonam Jain, and other accused by alleging that Jain, while holding the office as a Minister in the Government of Delhi, during the period Feb 14, 2015 to May 31, 2017 had acquired assets which were disproportionate to his known sources of income.

The ED had earlier provisionally attached the immovable properties worth Rs 4.81 crore belonging to companies beneficially owned and controlled by Jain on Mar 31 and arrested Jain on May 30 under sections 19 of the PMLA.

Meanwhile, the Rouse Avenue Court sent Jain to judicial custody for 14 days in the money laundering case.