Court discharges four in 1991 Jain hawala diary case

02-09-2017
DH

Entries found in the diaries of alleged hawala broker S K Jain were presented in a special court by CBI as crucial evidence against several senior politicians, cutting across party lines.

Additional Chief Metropolitan Magistrate Jyoti Kler discharged the Jain brothers, besides Mohd Ameer Deen Habib and Syed Arif, saying, “I am of the considered 
opinion that there is no evidence against the accused persons for putting them to 
trial...

All the accused persons are therefore discharged.”

The court said there was no evidence as to how the foreign exchanges were acquired.

Two complaints were filed in 1996. The first complaint was filed on April 25, 1996 against S K Jain, N K Jain, B R Jain and J K Jain.

The second complaint filed on August 31, 1996 against Mohd Ameer Deen Habib and S S O Syed Arif. These two complaints were clubbed in 2001.

During the pendency of the complaints, N K Jain and B R Jain expired and proceedings against them were abated.

These two complaints were offshoots of ‘Jain Hawala Diary Case’ registered by the CBI in the year 1991 which was later quashed by the apex court.

The Enforcement Directorate (ED) had alleged that S K Jain had converted foreign currency into Indian rupees without obtaining permission from the Reserve Bank of India (RBI).

The ED had chargesheeted J K Jain with abetting.

It was alleged that Jain had been receiving money from different sources including Syed Arif for and on behalf of the Jain brothers.

It was alleged that the foreign exchange was provided by Jains to Ameer and Arif who were businessmen.

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