Last week, the Special Court dealing with cases of corruption and other offences against lawmakers rejected Jain’s bail plea in the money laundering case registered against him by the ED.
On April 5 this year, the ED, on the basis of its investigation into the money laundering aspect, provisionally attached immovable properties worth ₹4.81 crore belonging to M/s Akinchan Developers Pvt Ltd, M/s Indo Metal Impex Pvt Ltd, M/s Paryas Infosolutions Pvt Ltd, M/s Manglayatan Projects Pvt Ltd, M/s JJ Ideal Estate Pvt Ltd, and other persons under the Prevention of Money Laundering Act.
This case was based on Central Bureau of Investigation (CBI) allegations that Jain had acquired movable properties in the name of various persons between 2015 and 2017 (check period), which he could not satisfactorily account for.
Source: Barandbench
