Ankush and Vaibhav Jain were arrested in 2022 for allegedly helping public officials disguise Satyendar Jain’s assets as their own. The ED argued that the two knowingly assisted in laundering the money by integrating the illicit funds into the financial system.
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NEW DELHI: The Delhi High Court on Tuesday (29th Oct) granted regular bail to Ankush Jain and Vaibhav Jain in a money laundering case linked to former Delhi minister Satyendar Jain.
Justice Manoj Kumar Ohri announced the decision on their bail pleas.
The Enforcement Directorate (ED) had accused the Jains of laundering money on behalf of Satyendar Jain, a prominent Aam Aadmi Party (AAP) leader who recently secured bail from a Delhi court.
Case Brief
The case against Satyendar Jain revolves around allegations that, between 2015 and 2017, he acquired movable assets in others’ names without providing a satisfactory explanation. The ED claimed that several companies under his control received accommodation entries worth Rs 4.81 crore from shell companies, routed through Kolkata-based operators via hawala transactions.
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Ankush and Vaibhav Jain were arrested in 2022 for allegedly helping public officials disguise Satyendar Jain’s assets as their own. The ED argued that the two knowingly assisted in laundering the money by integrating the illicit funds into the financial system.
The Jains were previously granted interim bail for a short period due to family health issues.
Senior Advocate Siddharth Agarwal, with support from advocates Neeha Nagpal and Malak Bhatt of NM Law Chambers, represented Vaibhav Jain. Advocate Zoheb Hossain appeared on behalf of the ED.
