State v. Satyendar Kumar Jain: Money Laundering Case

In the case of State v. Satyendar Kumar Jain, a money laundering prosecution complaint was filed against the accused, including Shri Satyendar Kumar Jain, Minister in the Delhi Government. The FIR was registered based on a Preliminary Enquiry conducted by the CBI. The accused are alleged to have been involved in a criminal conspiracy to receive accommodation entries in various companies for cash payments. The appeals arise from the High Court of Delhi’s rejection of bail applications of the appellants accused in the case.

Facts

Satyendar Kumar Jain hatched a criminal conspiracy and conceptualized the idea of accommodation entries against cash.
He recommended appointing his friend as the auditor of certain companies.
Jain approached an accommodation entry provider to receive entries in exchange for cash.
He received accommodation entry in his own company by paying cash and commission.
Jain initiated, managed, and controlled the companies involved in the accommodation entries.
Jain was the conceptualizer, initiator, and supervisor of the entire operation of accommodation entries.
A charge was framed against the accused in the Prosecution Complaint.
Jain was arrested along with other accused during the investigation.
The Prosecution Complaint for money laundering was filed against Jain and others.
Accommodation entries totaling Rs.4.81 Crore were received in various companies with corresponding cash payments.
Three appeals arise from the common judgment of the High Court of Delhi rejecting bail applications of the appellants.
Special Judge (PC Act) previously rejected bail applications of appellants accused in the case.
FIR registered against Shri Satyendar Kumar Jain, Minister in the Delhi Government, and others for offenses under IPC and PC Act.
FIR registered based on a Preliminary Enquiry conducted by Dy. Superintendent of Police, CBI.