The CBI has identified 30 shell companies floated by three people who, the agency suspects, helped Delhi Health Minister Satyendar Jain allegedly move money. This money, CBI alleges, belonged to four companies associated with Jain and his wife. CBI sources said it has booked Jain and his wife in a case of corruption as the minister could not explain funds received by the four companies in which he is a shareholder.
CBI sources said a total of Rs 4.63 crore was allegedly received through Prayas Info Solutions, Akinchan Developers, Managalyatan Projects and Indo-Metal Impex Pvt Limited in 2015-16 while Jain was serving as a minister. Sources said the minister and his wife were allegedly one-third shareholders in these companies during the period.
During questioning, the minister and his wife could not explain Rs 1.62 crore — approximately one-third of funds received by the companies during 2015-17, sources said. Jain was examined twice by the agency while his wife was quizzed once, they said.
The CBI has alleged that the minister had control over these companies either in the form of being one of the directors and by holding one-third shares of these companies in his name, or in the names of his family members or others. “Although he had resigned from directorship of the three companies in 2013 before contesting elections, his investments in these companies allegedly continued,” a CBI spokesperson said.
He said it was further alleged that the companies did not have any business and were shell companies for parking money in the form of investments in equity shares in connivance with Kolkata-based shell companies. “This apart, before becoming a public servant, he was allegedly involved in laundering of Rs 11.78 crore during 2010-12 through these companies as well as other companies also based in New Delhi,” the CBI has said.
The funds were allegedly used to purchase over 200 bighas of land in villages of Auchandi, Bawana, Karala and Mohammed Mazvi in Delhi between 2010 and 2016, CBI sources said.
Sources said that over 30 shell companies based in Kolkata helped the four companies facing CBI probe, through accommodation entries by purchasing their shares at inflated prices and selling them back at a different price.
Three contact persons of the Kolkata-based shell companies are also under CBI scanner. CBI sources alleged that the companies in which Jain and his family were shareholders had no genuine business, yet a huge amount of money was being received by them.
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