I-T dept summons Satyendra Jain over money laundering, tax evasion; recommends case to CBI

The Income tax department on Friday served summons against Aam Aadmi Party minister Satyendra Jain over money laundering and recommended the case to the Central Bureau of Investigation.

He is accused of making black money white and making millions of rupees as an anonymous property through hawala transactions. 

On April 6, the Income Tax Department has asked Jain to bring together those documents in which he has been a partner between 2010 and 2016. According to the information received, Jain has issued summons on March 27 under section 19 (1) of Anonymous law. This summon was done on March 27. 

Jian's assets have been attached under Prohibition of Benami Property Transactions Act. Assets attached include Shares and Properties in the name of companies allegedly owned by Satyendra Jain and his family.

Earlier investigation of the Income Tax department had found Jain using Kolkata-based three Hawala operators to infuse money in various companies. IT had found most of the companies had no source of income.

Delhi minister Satyendar Jain asset misappropriation, Income Tax attach Satyendar Jain properties,  Satyendar Jain's assets attached by Tax authorities.

Tax authorities have attached more than 100 bighas of land in the capital as well as shares in companies allegedly linked to Delhi minister Satyendar Jain, under the law against benami property — a move that's likely to further strain relations between the Centre and the AAP government. Sources said the investment value of the land was estimated at around Rs 17 crore while shares were worth around Rs 16 crore. The market value is seen to be much higher.

Notices for provisional attachment were served on February 27 with four companies receiving them. In the notices issued to Indo Metalimpex, Akinchan Developers, Prayas Infosolutions and Mangalyatan Projects, the initiating officer under the Prohibition of Benami Probition of Benami Properties Transactions Act has accused Jain of getting irregular book entries to acqui re shares in the company in return for cash payments.

Around 69 bighas of farm land belonging to Indo Metalimpex alone has been attached. Jain is one of the most powerful ministers in the Delhi government and in-charge of several key portfolios such as PWD, transport and health.