New Delhi, Mar 22 (IANS): The Delhi High Court on Wednesday reserved its order on bail pleas of jailed Aam Aadmi Party leader Satyendar Jain and his two aides in a money laundering case.

Jain has been in custody since May 30 last year and his co-accused are Vaibhav Jain and Ankush Jain.

Justice Dinesh Kumar Sharma heard arguments by accused's counsel, Additional Solicitor General S.V. Raju representing the Enforcement Directorate (ED).

A trial court court had, on November 17, 2022, dismissed the former Delhi minister's bail application.

The HC later issued notice on his bail plea.

According to the trial court, it has prima facie come on record that Satyendar Jain was "actually involved" in hiding the proceeds of crime by paying cash to entry operators based in Kolkata and then bringing the money into three companies against the sale of shares to demonstrate that the revenue of these three companies was clean.

In the petition before the high court, Jain argued that the Special Judge and Enforcement Directorate have gravely misread and misapplied the Prevention of Money Laundering Act "by identifying proceeds of crime solely on the basis of accommodation entries".

The accommodation entries cannot itself lead to a punishable offence under PMLA, it was argued.

Because the charge sheet has already been filed in the case, Jain said that he is "not required to be incarcerated" during the trial.