The Central Bureau of India (CBI) on Saturday said it was probing the transaction of money which was received by four shell companies in its ongoing money laundering probe against Delhi Health Minister Satyendar Jain.
A CBI official said Jain and his wife had shares in the companies, and the money, whose transaction is being probed, was used to buy 200 bighas of land on the city outskirts.
According to the CBI, the land was bought in three Delhi villages namely Auchandi, Karala and Mohammad Mazvi during 2010-2016.
The money came into Akinchan Developers, Indo Metal Impex, Prayas Infosolutions and Mangalyatan Projects in which Satyendra Jain and his wife were shareholders — to buy 200 bighas of land on Delhi's outskirts.
The official said that incomes tax (IT) investigations in 2013 found that Rs 16.38 crore were received by these four shell companies.
"We are yet to get input from where the money came into four shell companies related to the minister and his wife Poonam Jain," the official said.
Sources in the CBI said the land was bought at around Rs 17 crore while shares were worth around Rs 16 crore. The market value of the land is said to be much higher.
The CBI officials said the investigation so far has found that these four Delhi-based shell companies were not doing any business.
The official added that the money transactions were being done with 30 Kolkata-based shell companies illegally by the four Delhi-based shell companies linked to Jain and his wife in which they had a one-third share.
Jain allegedly had control over these shell companies either in the form of being one of the directors and by holding 1/3rd shares of these firms in his name or in the names of his family members and others.
Though he had resigned from the directorship of three companies in 2013 before contesting the election, his investments in these companies allegedly continued.
Informed sources said that three Kolkata-based contact persons Rajendra Bansal, Jitendra Mishra and Abhishek Chokhani's names also figured in the money trail.
CBI spokesperson Abhishek Dayal said the agency is examining some incriminating documents seized during its raids conducted on Friday at four locations in Delhi including Jain's official residence.
The CBI's move came after it registered a case under charges of Prevention of Corruption Act and abetment charge against Jain, his wife and four of his associates on Thursday.
It has been alleged that Jain, while functioning as a public servant, had amassed assets disproportionate to his known sources of income to the extent of Rs 1.62 crore during December 14, 2015, to May 31, 2017.
The CBI in April this year had registered a preliminary inquiry against Jain and others in an alleged money laundering case to the tune of Rs 4.63 crore in 2015-16 and found during its inquiry that Jain and his associates were involved in money laundering through shell companies.
During its investigation, the CBI found that these four Delhi-based companies sold their shares to Kolkata-based companies and then bought them back at a lesser price.
"Jain and his wife could not explain the money trail. Jain's daughter Soumya Jain is a shareholder in their family company J.J. Ideal Estate. This family company did Rs 15 lakh transaction with some of these Kolkata based companies. It also did transactions with Mangalyatan," the official added.