Supreme Court Upholds Bail Denial for Satyendar Jain Amid Money Laundering Allegations
The Supreme Court declined to grant bail to Aam Aadmi Party (AAP) leader Satyendar Jain in a money laundering case on Monday (March 18), instructing him to surrender immediately.
Jain was apprehended by the Enforcement Directorate (ED) in May 2022 on money laundering charges under the Prevention of Money Laundering Act. He, alongside others, stands accused of funneling illicit funds through three companies between 2010-12 and 2015-16. Despite being out on interim bail on medical grounds granted by the apex court in May last year, Jain’s request for bail was denied in this latest ruling.
The verdict, delivered by Justices Bela M Trivedi and Pankaj Mithal, followed Jain’s plea against a Delhi High Court order from April 2023 refusing bail. After a four-day hearing in January, the judgment in this matter was reserved.
Jain’s legal representatives cited his ongoing physiotherapy treatment and requested permission to postpone his surrender, a request the Court declined.
Throughout the proceedings, arguments from both sides were vigorously debated. The ED, represented by Additional Solicitor-General SV Raju, vehemently opposed Jain’s bail plea. Raju asserted that Jain retained significant influence over the companies implicated in the alleged money laundering operation, despite stepping down as a director. He underscored, “Cash transactions exceeding four crores were funneled through these companies, a fact not in dispute.”
The ED’s case centered on the assertion that Jain’s family members served as fronts to manage the companies, with co-accused Vaibhav and Ankush Jain acting as nominal heads. The agency argued that all funds received by these entities could be traced back to Satyendar Jain. Additionally, ASG Raju cautioned against overturning the lower courts’ previous denials of bail, stressing their concurrent findings.
Furthermore, Raju raised concerns about Jain’s alleged attempts to delay the trial, a matter which the Court also considered during the proceedings.
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