Hawala kingpin gets bail as NCB fails to file chargesheet

Last Updated: Saturday, July 3, 2010 - 21:35

New Delhi: A man allegedly involved in an
international drug trafficking syndicate on Saturday secured bail
from a Delhi court as the Narcotics Control Bureau (NCB)
failed to file a chargesheet within the stipulated 180 days.

"The accused (Naresh Kumar Jain) is enlarged on bail on
furnishing a personal and surety bond of Rs 2 lakh each as the
prosecuting agency could not file the chargesheet within
time," special judge Sanjiv Jain said.
Jain, who is in jail since his arrest on December six
last year, had filed an application under Section 167 of the
CrPC which entitles an accused to get bail if the probe agency
fails to file the chargesheet within the stipulated time.

The NCB had said the documents for completion of probe
were to be collected from Italy, the USA, the UK and UAE and
it was a time-consuming exercise.

The court had on May 15 issued letters rogatory to the
courts in foreign countries to seek their help in the probe.

However, ten days after the issuance of the letters
rogatory, the court dismissed the plea of NCB for extension of
time by one year to conclude the probe.

Jain is booked under Narcotics Drugs and Psychotropic
Substances Act for allegedly financing and transporting
narcotic drugs to international markets.
The NCB had alleged Jain, wanted in Italy, absconded
from Dubai and entered India illegally via Nepal and he had
links with Albanian drug traffickers as well.

Besides the drugs case, Jain is also booked by the
Enforcement Directorate (ED) under various provisions of the
Prevention of Money Laundering Act (PMLA) for his alleged
hawala transactions.

The court had also granted him the bail in the case as
the ED, like the NCB, failed to file the chargesheet within
time.

Jain, who used to run M/s Kumar Trading Company in Dubai,
was arrested there as well after it came to light that sale
proceeds of drugs, running into several crores of rupees, were
credited to the firm`s account, the ED had said.

The money was "transferred" to the account of the
company from Europe, China and Africa, it said.

The accused was also under the surveillance of US
authorities which had confiscated USD 4.3 million from him in
June last year, it said.

The ED also said the accused had financed persons
involved in drug syndicate in India and abroad.

He allegedly laundered money for global terrorist
Dawood Ibrahim and financed narcotic cells, it said.

PTI



First Published: Saturday, July 3, 2010 - 21:35

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