Court Summons Indo Metalimpex in Satyendra Jain Asset Case

The Rouse Avenue court has summoned Indo Metalimpex Pvt Ltd as an accused in the Satyendra Jain Disproportionate Asset case. Previously, eight others were summoned based on the main charge sheet. The new summons follows fresh allegations against the company, linking it to significant financial misappropriations.

In a significant development, the Rouse Avenue court has issued a summons to M/s Indo Metalimpex Private Limited in the ongoing Satyendra Jain Disproportionate Asset (DA) case. The court, having already summoned eight accused in the past, has now expanded its focus following a fresh supplementary chargesheet filed on January 3, 2025.

The court's order, delivered on January 31, was in response to specific allegations against Indo Metalimpex. The supplementary chargesheet also names several others, including Satyendra Kumar Jain, Ajit Prasad Jain, and Vaibhav Jain, alongside firms such as Akinchan Developers and Paryas Infosolutions, accusing them of controlling funds through proxy accounts.

According to the charges, Ankush Jain and Vaibhav Jain allegedly functioned as benami holders for substantial amounts, which were circulated through various company accounts between 2011 and 2016. The investigation revealed that part of these funds was declared under the Income Disclosure Scheme in 2016, significantly inflating the alleged disproportionate assets linked to Satyendra Jain by 582.24 per cent, up from 217.20% reported in 2018.