In a recent development in the ongoing money laundering case involving Aam Aadmi Party (AAP) leader Satyendar Jain, the Supreme Court has been presented with arguments by the Enforcement Directorate (ED) suggesting Jain’s continued de facto control over the companies involved. The case, which has garnered significant attention, involves allegations of money laundering through three companies during 2010-12 and 2015-16.
Representing the ED, Additional Solicitor-General SV Raju argued before a bench of Justices Bela M. Justices Bela M. Trivedi and Pankaj Mithalthat despite Jain relinquishing his directorial position in the companies, he maintained effective control through his family members. Raju stated,
“Unaccounted cash of over four crores were received in these companies, through entries. This is not disputed. Satyendar Jain, however, has maintained that he had nothing to do with this amount or the companies. His not being a director has no significance. He was de facto in control of these companies through his family members…Co-accused Vaibhav and Ankush Jain were only dummies. The entire amount that was received by these companies can be attributed to Satyendar Jain.”
Jain, arrested by the ED in May 2022, is currently out on interim bail, granted by the Supreme Court in May last year. The case against him includes allegations of laundering money through shell companies and inflating share prices to facilitate the laundering process. During the hearing, Justice Mithal inquired about the benefit Jain derived from these transactions, to which ASG Raju responded,
“This helped him because he did not have white…he needed the white money…”
The court was also shown photographs allegedly depicting Jain tutoring co-accused Vaibhav and Ankush Jain while in jail. A video of Jain receiving a massage in prison had previously gone viral, leading to a political row. Addressing this, Justice Mithal humorously asked why Jain was kept in jail if he was receiving special treatment, to which Raju replied with allegations of Jain feigning illness to avoid court proceedings.
“If you’re saying he’s getting special treatment, why keep him inside?” Justice Mithal asked ASG Raju, on a lighter note.
Raju replied,
“Either he is getting special treatment while in jail. Outside jail, he’s in the hospital. Whenever the bail matter comes up, he’s falling down. I’ve pointed out th e number of times he has suffered a fall just before the bail matter. It’s a strange coincidence. They say lightning never strikes in the same place twice…”.
Jain’s lawyer objected to these remarks, asserting that Jain’s injuries during his post-operative recovery had been verified. The hearing is set to continue on January 17.
The case has seen several developments since Jain’s arrest in May 2022, including multiple extensions of his interim bail on health grounds and allegations of delay tactics in the trial court proceedings. The ED’s case is based on a CBI complaint, accusing Jain and others of laundering money through companies and shell companies. Last year, the ED attached properties worth Rs. 4.81 crores in connection with the case.
The Delhi High Court had previously denied Jain bail in April, citing his influence and potential to tamper with evidence. The case, titled Satyendar Kumar Jain v. Directorate of Enforcement, continues to unfold, with the Supreme Court’s decision eagerly awaited.
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