Delhi court remands hawala kingpin to judicial custody
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Last Updated: Tuesday, December 15, 2009, 23:49
New Delhi: A Delhi court today remanded to eight days judicial custody Naresh Kumar Jain who was arrested by Narcotics Control Bureau (NCB) for allegedly financing and transporting of contrabands.

Additional Sessions Judge Sanjiv Jain sent Jain to jail till December 23 after he was produced by NCB on the expiry of his custodial remand.

Jain, meanwhile, filed an application questioning the motive of NCB on the ground that no specific case was made out against him under the Narcotics Drugs and Psychotropic Substances (NDPS) Act.

"In fact, NCB has resorted to proxy investigation in the case on behalf of Enforcement Directorate (ED) which cannot invoke the provisions of the Prevention of Money Laundering Act (PMLA) unless another case is pending against the accused," the counsel for Jain argued.

Special prosecutor for NCB, Rajesh Manchanda, opposed the plea saying there were actionable intelligence inputs against the accused to proceed independently and the probe was not being conducted at the behest of any other agency.

"The drug syndicate run by Jain has national and international ramifications. He has been arrested following the inputs from national and foreign agencies," he said.

The accused, who was to be remanded to judicial custody today, however, will not be sent to jail as now the investigators of ED would interrogate him till tomorrow to trail his alleged hawala transactions.

ED has also lodged a separate case against Jain under various provisions of PMLA alleging he was heading a hawala network worth over Rs 5,000 crore.

Jain has been evading appearance before ED since September when he was booked under Foreign Exchange Management Act.

NCB alleged 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.

The accused, who was arrested on December 6, has been booked under section 24 and 27A of the NDPS Act, dealing with financing drugs traffickers in India and outside.

The accused was also arrested in Dubai two years back following a sting operation by American and European security agencies but jumped bail.


First Published: Tuesday, December 15, 2009, 23:49

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