Thread by @barandbench

Delhi government minister Satyendar Jain to be produced before Special CBI Court Judge Geetanjli Goel in a money laundering case filed by the Enforcement Directorate. He was arrested Monday evening.

@dir_ed @SatyendarJain @AamAadmiParty #SatyendarJain

Senior Advocate N Hariharan will be representing Jain in the case.

@dir_ed @SatyendarJain @AamAadmiParty #SatyendarJain

The @dir_ed case against #SatyendarJain

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Solicitor General Tushar Mehta to appear for ED in the case against minister Satyendar Jain.

#SatyendarJain @dir_ed

Jain produced before court by ED officials.

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Judge Goel presides. Hearing begins. ED to seek 14 days custody of Jain.

#SatyendarJain @dir_ed

Mehta: I appear for ED. Moving an application for 14 days of custody. May i broadly point out what are the grounds.

#SatyendarJain @dir_ed

SG: Broad brief background. Offences committed how and for what reason.

SG now reads relevant paras concerning the allegations.

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SG refers to allegations companies – “beneficially owned and controlled by Jain” received accommodation entries amounting to ₹4.81 crore from shell companies against the cash transferred to Kolkata-based entry operators through a hawala route.

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SG: Company were shell companies. Entire transaction of black becoming white..

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SG reading relevant portions of the ED document. Layered transactions which led to purchase of agricultural land in a village in Delhi.

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Judge Goel: Isn't what you're referring to before the check period (2015-2017)?

SG:Yes, yes. I'm coming to that.
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SG continues reading.

SG: We called him. We didn't straight away exercise power of arrest. He has remained evasive.

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SG: After recording detailed reasons we have arrested him

Judge Goel: Why you need 14 days?

SG: There's a chequered layer of money. We don't know if he was laundering somebody else's money. Who are other potential beneficiaries of this money laundering.

#SatyendarJain @dir_ed

SG: The money hasn't stopped at 4.31 crore. It is beyond. Some facts we don't have. But accused is aware. Likelihood of tampering with evidence can't be ruled out till we ascertain the real trail. So far he has evasively denied to the agency.

#SatyendarJain @dir_ed

Rs 4.81 crore*

SG after reading relevant portions: What they said before tax authorities and what they didn't deny before Delhi HC (in a related matter) corroborates their (co-accused related to Jain) stand.

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Judge Goel: I'm asking why 14 days?
SG: Considering intricate nature of money trail. Distinction between IPC and PMLA is that many offences committed in the heat of the moment but money laundering is calculated and committed cool headed.
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SG: To find out where eventually money came from. This is not a one time offence. This is of a recurring nature which may still be going on. He may be able to throw light during custodial interrogation.

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SG now reading judgments pertaining to custodial interrogation.

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SG: Hypothetically we get 3 or 4 days. It's not like we will interrogate for 24 hours. There will be medical, etc needs.

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SG concludes.

Hariharan begins: Nothing but reproduction of chargesheet. 2015 case.. Not an inch has moved. 5-6 occasions he has been summoned and he's been there.

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Hariharan reads judgment on "deemed custody". When court will see the conceptus of facts what is the role of the applicant?

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Hariharan: the check period (2015-2017)is being used. Everything should relate to this period. But it is not.
Judge: but they are saying cheques weren't encashed till later?
Hariharan: The portions isn't relevant to him. It is for co-accused.
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Hariharan: co-accused may choose to do anything. I'm not concerned. Can that be relied upon for remand?
The co-accused said it's this gentleman's money. He may say anything.

#SatyendarJain @dir_ed

Hariharan: they haven't been able to point out any source of income even in the CBI case. No evidence to show that money from me went (hawala). His house been searched on two occasions. His bank accounts also seized.

#SatyendarJain @dir_ed

Hariharan: the entire material is with them. I'm given share in these companies as a consultant. I was architect. What company does is none of my business. Even today it's same share percentage. The land is in the name of those companies.

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Hariharan: I had resigned from the companies on assuming office.w
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Hariharan: When they have the entire material why do they need 14 days of custody. They say non cooperation but it's to get confession

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Hariharan: This is a case of no police remand. This is a case where a person should be granted bail. That reasonable belief which my friend was mentioning under Section 19 doesn't exit.

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SG rebuts: It is interesting to know that it is profitable to be non practicing architect and the consultancy fee is a huge share....that's why there's a difference between CBI offences and ED offences.

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SG: This is not a case where he can say I'm just holding shares and not having control. Had control.

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SG: It is a case where court should exercise discretion or else it will frustrate ends of justice.

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Hariharan: I only held shares. You're showing that I accrued income... Money accrued was in relation to those shares. I had nothing to do with it.

#SatyendarJain @dir_ed

BREAKING: Special Court grants ED custody of Satyendar Jain till June 9.

#SatyendarJain @dir_ed