Jain, who was arrested by the Enforcement Directorate (ED) on May 30, 2022, for allegedly laundering money through four companies linked to him, is currently in judicial custody.
“Considering the delay in trial and long incarceration of 18 months, and the fact that trial will take long to start, let alone conclude, accused is favourably suited for the relief,” stated Judge Vishal Gogne while granting bail.
The bail was granted on a bond of Rs 50,000, along with two sureties of the same amount. The case originated from a 2017 FIR lodged by the Central Bureau of Investigation (CBI) under the Prevention of Corruption Act.