Sanjay Jain and 13 other people have been the subject of a supplemental prosecution complaint under the Prevention of Money Laundering Act, 2002 (PMLA), filed by the Directorate of Enforcement (ED), which asks the Honourable Special CBI Court – Cum- Special Court (PMLA), Kolkata, to convict the defendants and seize assets worth Rs. 4.80 crore. The Prosecution Complaint has been brought before the Honourable Special Court.
According to the FIR and subsequent Charge Sheet filed by the CBI against Sanjay Jain and others in connection with the fraudulently opening of proprietorship firms and their bank accounts to convert demonetized currency notes totalling Rs. 7.76 Crore into legal tender with the aid of Amitesh Sinha, the then Deputy Manager of the Axis Bank, Burrabazar Branch, Kolkata, Sanjay Jain’s case was opened by the ED. Sanjay Jain was discovered to have received 7.76 crore rupees in demonetized cash from other people while working with Amitesh Sinha. They then transferred the money to other recipients after depositing the cash into unauthorised bank accounts.
Before filing a Prosecution Complaint in August 2020, ED had previously issued a Provisional Attachment Order (PAO) in 2019 to attach assets in the form of bank accounts and real estate valued at Rs. 3.45 crore. Additionally, ED issued another PAO in March 2022 and attached additional assets totalling Rs. 1.34 crore. The PMLA, an honourable adjudicating authority, confirmed both PAOs. Further research is now being conducted.
