Published On: Tue, Apr 5th, 2022

ED attaches property of five firms, 3 women in PMLA case

New Delhi: The Enforcement Directorate (ED) on Tuesday attached immovable properties worth Rs 4.81 crore of five firms and three women under Prevention of Money Laundering Act pertaining to a disproportionate assets case.

ED initiated Money Laundering investigation on the basis of an FIR registered by Central Bureau of Investigation

A senior ED official said that the land belongs to Akinchan Developers Pvt Ltd, Indo Metal impex Pvt Ltd, Paryas Infosolutions Pvt. Ltd, Manglayatan Projects Pvt Ltd, JJ Ideal Estate Pvt Ltd, and three women — Swati Jain, Sushila Jain and Indu Jain.

The ED initiated Money Laundering investigation on the basis of an FIR registered by Central Bureau of Investigation (CBI), against Satyendar Kumar Jain and others under section 109 of IPC read with sections 13(2) and 13(1) (e) of Prevention of Corruption Act.

While investigating the case, the ED learned that during 2015-16, when Jain was a public servant, the above mentioned companies beneficially owned and controlled by him received accommodation entries to the tune of Rs 4.81 crore from shell companies against cash transferred to Kolkata based entry operators through Hawala route.

These amounts were utilised for direct purchase of land or for the repayment of loan taken for purchase of agricultural land in and around Delhi. Accordingly, immovable properties worth Rs 4.81 crore in the form of land belonging to the accused and their companies were attached under section 5 of PMLA,” said the official.

Further investigation in the matter is underway.

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