Enforcement Directorate widens its investigation into benami assets, with missing aide Nikant Jain once again under the scanner.
ED Serves New Notice to Jain
The Enforcement Directorate has sent a fresh summons to Nikant Jain, a close confidant of suspended IAS officer Abhishek Prakash, as part of its continuing probe into money laundering and bribery charges. Jain, who was arrested in March and later granted bail, has since gone missing and has failed to appear before the agency despite earlier notices.
Bail Discovery During August Raids
The development surfaced when ED officials, during searches on August 7, found records indicating that Jain had already been released on bail — a fact that even the investigators were unaware of until then.
Hunt for Benami Assets
With Jain remaining out of reach, the ED has escalated efforts to track him down and bring him in for questioning. Investigators claim to have located multiple properties linked to Jain, most of which appear to be registered under benami holders.
“Evidence suggests Jain invested in properties through proxies to conceal real ownership. These assets will form a major part of his interrogation,” an official associated with the case remarked.
Origin of the Case
The inquiry against Jain was triggered by an FIR lodged on March 20 at the Gomtinagar Police Station by Vishwajeet, a representative of a solar power company that was seeking to establish business in Uttar Pradesh. The complaint alleged that Jain demanded a bribe on behalf of Abhishek Prakash, who at the time was CEO of Invest UP.
Jain was taken into custody soon after the FIR, but his subsequent release on bail went unnoticed until ED’s August raids uncovered the information.
Paper Trails and Wider Net
The agency is now examining a range of properties believed to have been purchased under the names of relatives and associates, including those suspected to be in the possession of Jain’s brother Sukant Jain.
Documents retrieved from the residence of Saurabh Seth, a director in one of Jain’s companies, are also under scrutiny. These records reportedly contain financial statements and property-related papers that may further strengthen the case for money laundering.
Next Course of Action
With Jain absconding, officials are said to be weighing stricter measures to compel his appearance if he ignores the most recent summons. The ED is also piecing together the broader nexus of influence, which may not only implicate Jain and Abhishek Prakash but also uncover connections to other individuals who might have benefited.
Over the coming weeks, additional persons associated with Jain’s firms and financial activities are expected to be called in for questioning.
