Delhi minister Satyendar Jain denied bail in money laundering case

Satyendar Jain was arrested by the Law Enforcement Directorate last month

New Delhi:

Delhi Health Minister Satyendar Jain’s bail request in a money laundering case has been rejected by a city court. He was arrested last month by the Directorate of Law Enforcement for alleged hawala dealings with a Kolkata-based company in 2015-2016. A hawala system involves two parties transacting money with local agents on their behalf without the funds passing through formal banking channels.

The Central Bureau of Investigation (CBI) had filed a complaint against Mr Jain and his family in August 2017 for alleged money laundering up to Rs 1.62 crore.

The CBI alleged that Mr Jain and his family set up four shell companies – companies with no real business – to launder Rs 11.78 crore in 2011-12 and Rs 4.63 crore in 2015-16.

The Law Enforcement Branch has begun its investigation into the money laundering allegations based on the CBI’s First Information Report, or FIR.

The arrest had spared a new war between Arvind Kejriwal, the chief minister of Delhi, a union territory, and the central government, which the Aam Aadmi Party (AAP) and other opposition leaders like Mamata Banerjee and K Chandrashekar Rao of Telangana have often claimed to have used. central agencies to harass them.