The Delhi High Court has reserved the order on jailed former AAP minister Satyendar Jain and two others in a money laundering case after multiple hearings in the matter.
The bench of Justice Dinesh Kumar Sharma on Tuesday kept the order reserved after the conclusion of the submissions made by both sides.
While arguing Additional Solicitor General SV Raju appeared for Enforcement Directorate contented that money laundering is crystal clear against Jain and other co-accused.
In their bail plea, Satyendar Jain stated that he appeared before Enforcement Directorate on 7 occasions. He has cooperated and participated in the investigation. He was arrested in 2022 related to a 5 year-old case.
On November 17, 2022, the trial court dismissed the bail petition of Satyendar Jain. He was arrested on May 30, 2022, under sections of the Prevention of Money Laundering Act by the Enforcement Directorate and is presently in Judicial Custody in the case.
In his bail in Delhi High Court, Satyendar Jain stated that the trial court Judge and ED has gravely misread and misapplied the PMLA by identifying proceeds of crime solely on the basis of accommodations entries. That accommodation entries cannot itself lead to a punishable offence under PMLA.
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