Delhi High Court Grants Bail to Ankush and Vaibhav Jain

The Delhi High Court recently granted bail to Ankush and Vaibhav Jain, who are co-accused in a money laundering case involving former Delhi cabinet minister Satyendra Jain. This ruling follows a similar decision in which Satyendra Jain was also granted bail by a Delhi court. The bail decision was delivered by Justice Manoj Kumar Ohri.

Ankush and Vaibhav Jain were initially detained by the Enforcement Directorate (ED) on June 30, 2022, following the ED’s earlier arrest of Satyendra Jain in May 2022. The agency alleges that Satyendra Jain, during his tenure as a Delhi cabinet minister, accumulated disproportionate assets valued at Rs. 1.47 crore between February 2015 and May 2017.

The allegations extend to Ankush and Vaibhav Jain, who, according to the ED, supported Satyendra Jain in misrepresenting his movable assets. They allegedly aided public servants in attributing Satyendra Jain’s assets to their names. The case highlights accusations of money laundering executed through four companies connected to Satyendra Jain, with the ED asserting that Ankush and Vaibhav Jain played a significant role in the offense as his business associates.

In 2022, the trial court admitted the ED’s prosecution complaint against Satyendra Jain, his spouse, and eight other individuals, including four related firms, bringing further scrutiny to the alleged financial misconduct.