In the money laundering case involving former Delhi minster Satyendar Jain, the Delhi High Court Tuesday granted bail to co-accused Ankush Jain and Vaibhav Jain.
This decision is seen in the light of the recent Development wherein, a Delhi court had approved of bail for Satyendar Jain.
The bench of Justice Manoj Kumar Ohri, allowed both Ankush and Vaibhav Jain to be released from custody.
What is the Case?
The money laundering case was initiated by the Central Bureau of Investigation earlier lter taken on by the Enforcement Directorate.
As per the the ED, both Ankush and Vaibhav had intentionally aided former Delhi Minister Satyendar Jain.
They allegedly filed declarations under the Income Tax Disclosure Scheme to conceal an undisclosed income of ₹8.6 crore, aiming to protect the former minister Satyendar Jain, ED said in court.
Duo were arrested on June 30, 2022.
As per ED, they created backdated documents and participated in money laundering proceeds of crime amounting to ₹5 crore on behalf of the Jain.
The allegations are that Satyendra Jain’s allegedly misused his ministerial position between February 2015 and May 2017.
