Neutral Citation Number is 2023:DHC:2380

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IN THE HIGH COURT OF DELHI AT NEW DELHI

Judgment reserved on : 21.03.2023

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Judgment pronounced on: 06.04.2023

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BAIL APPLN. 3590/2022, CRL.M.A. 25088/2022

SATYENDAR KUMAR JAIN

..... Petitioner

Through:

Mr. N. Hariharan, Sr. Adv. with Mr.

Vivek Jain, Mr.Vaibhav Yadav, Mr.

Rajat Jain and Mr. Prateek Bhallam

Mr. Varun Deswal, Ms. Punya Rekha

Angara, Mr. Sharian Mukherji and

Mr. Mohammad Pasim, Adv.

versus

DIRECTORATE OF ENFORCEMENT

..... Respondent

Through:

Mr. S. V. Raju, learned ASG,

Mr. Zoheb Hossain, Counsel for ED,

Mr. Vivek Gurnani, Mr. Siddhartha

Kaushik, Mr. Anshuman Singh, Mr.

Gaurav Saini, Mr. Navneet Aggarwal,

Advs. and Mr. Pawan Kumar, IO.

+

BAIL APPLN. 3705/2022, CRL.M.A. 25952/2022

VAIBHAV JAIN

..... Petitioner

Through:

Dr. Sushil Kumar Gupta, Ms. Sunita

Gupta, Mr. Sakshit Bhardwaj, Ms.

Aakriti Goyal and Ms. Molly Sharma,

Advs.

versus

Digitally Signed By:RAJ

BALA

Signing Date:06.04.2023

18:16:43

Signature Not Verified

Neutral Citation Number is 2023:DHC:2380

DIRECTORATE OF ENFORCEMENT

..... Respondent

Through:

Mr. S. V. Raju, learned ASG,

Mr. Zoheb Hossain, Counsel for ED,

Mr. Vivek Gurnani, Mr. Siddhartha

Kaushik, Mr. Anshuman Singh, Mr.

Gaurav Saini, Mr. Navneet Aggarwal,

Advs. and Mr. Pawan Kumar, IO.

+

BAIL APPLN. 3710/2022, CRL.M.A. 25986/2022

ANKUSH JAIN

..... Petitioner

Through:

Dr. Sushil Kumar Gupta, Ms. Sunita

Gupta, Mr. Sakshit Bhardwaj, Ms.

Aakriti Goyal and Ms. Molly Sharma,

Advs.

versus

DIRECTORATE OF ENFORCEMENT

..... Respondent

Through:

Mr. S. V. Raju, learned ASG,

Mr. Zoheb Hossain, Counsel for ED,

Mr. Vivek Gurnani, Mr. Siddhartha

Kaushik, Mr. Anshuman Singh, Mr.

Gaurav Saini, Mr. Navneet Aggarwal,

Advs. and Mr. Pawan Kumar, IO.

In ECIR/HQ/14/2017

Date of arrest:

Satyendar Kumar Jain:

30.05.2022

Ankush Jain:

30.06.2022

Vaibhav Jain:

30.06.2022

CORAM:

HON'BLE MR. JUSTICE DINESH KUMAR SHARMA

Digitally Signed By:RAJ

BALA

Signing Date:06.04.2023

18:16:43

Signature Not Verified

Neutral Citation Number is 2023:DHC:2380

I N D E X

Sr.No.

Title

Page No.

A.

Preface

3-5

B.

Background Facts

5-9

C.

Submissions on behalf of Satyendar Kumar Jain

9-17

D.

Submissions on behalf of Vaibhav Jain & Ankush Jain

18-23

E.

Submissions on behalf of Directorate of Enforcement

23-35

F.

Finding and Analysis

35-46

J U D G M E N T

DINESH KUMAR SHARMA, J.

(A)Preface

1.

This order shall dispose of applications filed under Section 439 Cr.P.C.

seeking bail by the petitioners Satyendar Kumar Jain, Vaibhav Jain and

Ankush Jain for an offence punishable under Section 4 of the

Prevention of Money Laundering Act, 2002 (hereinafter referred to as

the PMLA) in ED complaint bearing No.ECIR/HQ/14/2017 dated

30.08.2017 which was registered in pursuance of CBI case bearing FIR

No. RC-AC-1-2017-A-0005 dated 24.08.2017.

2.

The bail application filed by the petitioner Satyender Kumar Jain was

rejected by the learned Special Judge (P.C. Act) (CBI) -23 (MPs/MLAs

cases) vide a detailed order dated 17.11.2022 having regard to the

mandatory twin conditions u/s 45 of the PMLA. The Ld. Special Judge

prima facie opined that the applicant/accused Satyendar Kumar Jain

was involved in concealing proceeds of crime by giving cash to

Kolkata-based entry operators and thereafter, bringing the cash into the

companies namely, M/s.Manglayatan Developers/Projects Pvt.Ltd.,

Digitally Signed By:RAJ

BALA

Signing Date:06.04.2023

18:16:43

Signature Not Verified

Neutral Citation Number is 2023:DHC:2380

M/s. Akinchan Developers Pvt. Ltd. and M/s.Paryas Infosolutions Pvt.

Ltd. against sale of shares to project that the income of these three

companies was untainted. It was held by the Ld. Special Court, PMLA

that apart from that, accused Satyendar Kumar Jain has also used the

same modus operandi to convert his proceeds of crime of

Rs.15,00,000/- by receiving acco