The Rouse Avenue Court has recently summoned M/s Indo Metalimpex Private Limited as an accused entity in the ongoing Satyendra Jain Disproportionate Assets (DA) case.
The court, upon review of the evidentiary allegations presented, determined that sufficient grounds existed to extend the summons to this corporate entity.
Previously, in April 2019, the court had acknowledged the prima facie case against eight other accused individuals, including Satyendra Jain, by taking cognizance of the primary chargesheet. In its latest order, issued by the Special CBI Judge on January 31, 2025, the court extended the legal proceedings to include Indo Metalimpex Private Limited.
A Supplementary Chargesheet, filed on January 3, 2025, implicates multiple individuals—Satyendar Kumar Jain, Ajit Prasad Jain, Vaibhav Jain, Sunil Kumar Jain, and Ankush Jain—alongside three corporate entities: M/s Akinchan Developers Private Limited, M/s Manglaytan Projects Private Limited, and M/s Paryas Infosolutions Private Limited. Indo Metalimpex Private Limited has now been added to this list.
The prosecution asserts that between 2011 and 2016, the accused entities received illicit financial inflows amounting to Rs. 16.38 crore, with Ankush Jain and Vaibhav Jain acting as benami proxies for these transactions. Furthermore, a sum of Rs. 7.44 crore was reportedly deposited into the Bank of Baroda, Bhogal Branch, under the pretense of advance tax payments pursuant to the Income Disclosure Scheme, 2016.
Investigative findings indicate that the accused corporate entities were under the direct control and administration of Satyendar Kumar Jain, Ajit Prasad Jain, and Sunil Kumar Jain. A forensic financial assessment included in Statement ‘D’ of the Supplementary Chargesheet identified Rs. 2.48 crore—one-third of the aforementioned deposit—as an illicit expenditure directly attributable to Satyendar Kumar Jain during the check period spanning February 14, 2015, to May 31, 2017.
The revised financial computation conducted after the submission of the Supplementary Chargesheet has recalibrated the estimated disproportionate assets to Rs. 3.95 crore, reflecting an exponential increase of 582.24%.
This represents a significant deviation from the figures outlined in the primary chargesheet filed on December 3, 2018, which had assessed the total disproportionate assets at Rs. 1.47 crore, amounting to 217.20% of the legally declared assets.
The original prosecution in this matter was initiated through the chargesheet filed on December 3, 2018, naming Satyender Kumar Jain, Poonam Jain, Ajit Prasad Jain, Vaibhav Jain, Sunil Kumar Jain, and Ankush Jain as primary defendants.
The court officially took cognizance of these allegations on April 30, 2019, thereby commencing formal legal scrutiny.
