The Ministry of Home Affairs has sanctioned prosecution of Delhi minister Satyendra Jain in a disproportionate asset and money laundering case. In August last year, Central Bureau of Investigation (CBI) had registered a case against the AAP leader accusing him of acquiring assets disproportionate to his known sources of income.
It is alleged that Jain floated several shell companies in Delhi which did not have any real business. Some of these companies are M/s Akichan Developers Private Limited, M/s Indo Metal Impex Private Limited, M/s Paryas Infosolutions Private Limited and M/s Manglayatan Projects Private Limited, which were launched between 2009 and 2011. Jain had laundered black money of ₹16.39 crore from hawala operators through 54 shell companies, according to the case.
Jain is alleged to have laundered unaccounted cash through the hawala operators and received cheques of an equal amount from them. He also purchased land in the name companies owned by him including black money. It is alleged that he purchased lands near unauthorised colonies in Delhi.
Jain was also prosecuted under Prohibition of Benami Property Transaction Act, 1988 (PBPT Act), and after the investigation was over and it was established that Satyendra Jain was the owner of the shell companies, the shares of the companies and the land owned by them was attached. After that, Jain had declared an income of ₹16.39 crore under the Income Declaration Scheme and had paid the tax on it.
While investigating the source of this black money, hawala operations and use of cash for land purchase were detected, and cases were registered by CBI accordingly.
Reacting to this development, Satyendra Jain tried to suggest that he was being prosecuted for regularising unauthorised colonies, and not for money laundering allegations.
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Talking to media, he said that regularising unauthorised colonies was part of AAP manifesto and he was doing just that.