#Delhi's Special CBI Court, Rouse Avenue will today hear @AamAadmiParty Minister #SatyendraJain bail plea in #moneylaunderingcase.
After @dir_ed filed a transfer petition, Jain's bail application will now be heard by Special Judge Vikas Dhull.
#PMLA #DelhiCourt #Minister
After @dir_ed filed a transfer petition, Jain's bail application will now be heard by Special Judge Vikas Dhull.
#PMLA #DelhiCourt #Minister
Special Judge Vikas Dhull begins hearing #AAP Minister #SatyendraJain bail plea in #moneylaundering case.
An Additional Affidavit is filed on behalf of the ED, showing the conduct of Jain and two other accused,that 3 accused in this case are hampering with the investigation. He alleges that the two accused helped Satyendra Jain, and also states that Jain is controlling everything.
Counsel for #AnkushJain and #VaibhavJain begins making his arguments. He states that during inquiry it was found that 1/3rd of the shareholding was of #SatyendraJain.
Mr. Gupta counsel for #AnkushJain & #VaibhavJain mentions relevant portions of the Enforcement Case Information Report (ECIR). He further states portions from the #CBI Chargesheet.
Gupta states that #CBI has a notional value that 1/3rd of shareholding are of #SatyendraJain to which we are Benami shareholders.
Court- Are you Director of the companies?
Gupta: He states that all the money alleged is our own & Jain has been roped in bcz he's a Minister.
Court- Are you Director of the companies?
Gupta: He states that all the money alleged is our own & Jain has been roped in bcz he's a Minister.
He states that 4crore... lakhs is my money & #SatyendraJain has nothing to do with it.
Court- How are you related to Jain?
Gupta: At some point of time Jain was a consultant in our companies as he is an Architect.
Court- How are you related to Jain?
Gupta: At some point of time Jain was a consultant in our companies as he is an Architect.
Coming to the proceeds of crime as stated by #CBI, Gupta reads...."beneficially owned & controlled" by #SatyendraJain. He states that #ED has told that the proceeds of crime found by them is higher than that investigated by #CBI.
Gupta informs that the #CBI did not bring in any conspiracy after investigation, it is the #ED that has alleged 'conspiracy is hatched'.
Gupta argues what exactly is the proceeds of crime in this case, and if there is not then no case is made out. He mentions #SupremeCourt Judgment of Vijay MadanLal Chaudhary wherein, court stated that "proceeds of crime" should be taken "strictly" in #PMLA case.
Gupta reads from the Judgment that, "the property associated should be derived & obtained directly or indirectly of crime resulting to a scheduled offence".
He states that in the present case, it is a Disproportionate Assets (DA) Case.
He states that in the present case, it is a Disproportionate Assets (DA) Case.
Gupta argues that the entire process of #ED while stating the proceeds of crime is "faulty". He continues reading relevant portions from #SupremeCourt Judgment.
He argues that there is no proceeds of crime in this case and states that if it is not there, what is the virtue of the case. Gupta now refers to portions the complaint of the #ED @dir_ed.
He states that #SatyendraJain on July 31, 2013 left his partnership in all the companies before contesting for the #AamAadmiParty.
Court- What about the shareholdings?
Gupta states that it was transferred to his wife Ms. Poonam Jain.
Court- What about the shareholdings?
Gupta states that it was transferred to his wife Ms. Poonam Jain.
He argues that in 2015 Jain became a Minister, a public servant, the period prior to that is not involved. He states that #SatyendraJain was an Ordinary Man & same has been stated by the #ED & #CBI.
Gupta states that we (#AnkushJain & #VaibhavJain) is the financial controller of the companies and #SatyendraJain is no where the controller. He states that they (@dir_ed ) have made a bias in their mind that Jain is behind all this.
He argues that @dir_ed is trying to make "mountains out of small moles", and they have taken parts of 2011-12, which is irrelevant.
Gupta argues that #SatyendraJain after resigning from the companies was not involved in anything related to it.
Court- Shareholdings?
Gupta states it was transferred to #PoonamJain (wife of Jain) in the same amount.
Court- Shareholdings?
Gupta states it was transferred to #PoonamJain (wife of Jain) in the same amount.
Reading from the complaint filed by #ED Gupta mentions #PoonamJain & #VaibhavJain were the directors of the companies and Poonam Jain signed docs on Vaibhav Jain's directions.
Taking note that the bail plea is to be disposed of in 10 working days, the Court is adjourned and the matter will be taken up tomorrow at 11am.
[PMLA Case] Delhi Court Resumes Hearing AAP Minister Satyendra Jain’s Bail Application Afresh
@SukritiMishra12 reports
lawbeat.in/news-updates/p…
@SukritiMishra12 reports
lawbeat.in/news-updates/p…
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