Thread by @LawBeatInd

#Delhi's Special CBI Court, Rouse Avenue will today continue hearing @AamAadmiParty Minister #SatyendraJain bail plea in #moneylaunderingcase.
Counsel for @dir_ed will make arguments before Spl Judge Vikas Dhull today.

#AamAadmiParty #Bailplea #satyendrajain #PMLA

ED had earlier submitted before the court that #SatyendraJain is getting VIP treatment in Jail and also submitted CCTV footage that showed an unknown person giving a foot, and body massage to Jain inside his cell.
Read more: lawbeat.in/news-updates/a…

The court has assembled. ASG SV Raju appearing for ED (@dir_ed) begins making his arguments opposing #SatyendraJain's bail application.

ASG Raju reads provisions of #PMLA, states that it deals with 'proceeds of crime'. He now mentions S.2(1)(u) - Proceeds of crime, and argues that it related to "the scheduled offence".

ASG Raju states that as Jain has withdrawn his application for sickness, he doesn't fall under the proviso of the provision of Prevention of Money Laundering Act. He submits that on the "predicate offence" in this case has not been challenged.

ASG: Predicate offence exists or not cannot be argued in the proceedings and Chargesheet is already filed & court has taken cognisance of the "predicate offence".

ASG argues that there are 5 companies associated with Jain & his dummies #AnkushJain & #VaibhavJain, wherein his modus operandi was to convert "cash" into "non-tainted money".

Raju argues that these companies were just paper companies, and had DID NOT do any real "Business", and has no "intrinsic value".

Raju submits that Jain had control over all these companies, and will demonstrate the same. He argues that that he wanted to convert "Cash" into "genuine money".

ASG Raju argues that the same operatus, same companies were constantly active even when Jain existed, the money's were provided by him in form of cash.

He states lets take. 'A' exists the companies in 2013, but even after that he keeps giving money in cash ...this shows he had "de facto control" over the companies and cash was given etc.

ASG states that he'll reply on CA JP Mohta's statements which will show the court how Jain had control over everything. He states that these 5 companies had "NO BUSINESS" & "NO INTRINSIC VALUE"

ASG: On the aspect of Share Application Money, "We did not find any Demat Share, we did not find any application of shares!" Raju argues that "Shares were not transferred".

He submits all these share companies before the cheque period and adter the cheque period is same. "The entire working was same, as when he was defacto there, the same modus operandi was acquired".

ASG Raju places a chart of all companies details before the court and states that it's a "bird's eye view" of everything related to the case.

Reading statements, Raju states converting "cash" into "legitimate money" was done by Rajendra Bansal. He states that Jain wanted to convert "black money" to "White money".

Raju argues that as per the 2010 meeting,#VaibhavJain was involved as an associate of #SatyendraJain before the cheque period & after the cheque period also.

ASG: Rs.16.5 crores was provided to #satyendrajain's company during 2010-11 & 2015-16(which is the cheque period), says Rajendra Bansal in his statements.

ASG: "Satyendra Jain is deeply involved before the cheque period & during the cheque period, all these years he was providing cash, currency note numbers to Calcutta Based operators".

He argues that the documents have been back dated to bring in #AnkushJain & #VaibhavJain to help #satyendrajain, a powerful & influential leader. Raju further states, "they have fabricated the evidence".

Raju argues that "this was a camouflage to support Satyendra Jain, they went to the extent to backdate the documents".

ASG: Reading 5th July 2022, statement of JP Mohta, "All three (Ankush, Vaibhav & Satyendra Jain) were providing cash, to the Calcutta Based companies".
He continues reading relevant statements of other persons.

ASG reads, "I recieved 40-50 hawala Transactions, on the instructions of the CA Mohta and #satyendrajain".
He argues that this person was not instructed by #vaibhavjain or #ankushjain, but was instructed by #satyendrajain & his CA.

Raju argues that cash was provided by #satyendrajain to accomodate entries.
ASG Raju requests court to continue making his submissions day after tomorrow.

The court will continue hearing arguments of ASG SV Raju appearing for @dir_ed on November 9, at 12:30pm.