The Directorate of Enforcement (ED), Hyderabad, provisionally attached 22 immovable and eight movable properties worth ₹7.98 crore in a case related to illegal export of psychotropic substances.
The ED initiated investigation against M/s JR Infinity Private Limited, its owner Aashish Jain, and his family members, based on the information report recorded by the Narcotics Control Bureau (NCB), Hyderabad, on May 4, 2022. As per the case, Jain was running an illegal internet pharmacy business from the premises of M/s JR Infinity Private Limited and was illegally exporting psychotropic substances in tablet form like alprazolam, zolpidem, lorazepam, clonazepam, hydrocodone and oxycodone.
The search operations conducted by the NCB on the premises of the accused led to the seizure of Indian and foreign currency amounting to ₹3.72 crore as well as incriminating evidence regarding illegal export of psychotropic substances.
The ED investigation revealed that Jain incorporated M/s JR Infinity Pvt. Ltd. explicitly for illicit trade to overseas customers in violation of the provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985.
The ED said even prior to incorporation of M/s JR Infinity Private Ltd., Jain and his family members received foreign inward remittance of more than ₹4.50 crore in their personal bank accounts, without any legitimate business and against illegal sale of drugs abroad. The total proceeds of crime in the case are estimated to be ₹12.76 crore.
The attached properties include land parcels in Indore, Madhya Pradesh, valued at ₹6.52 crore, bank balance and fixed deposits valued at ₹1.46 crore, all in the name of Jain and his family members. The ED said that the illicit funds were utilised for creation of fixed deposits and purchase of several immovable properties in the name of Aashish Jain and his family members.
Further investigations are underway.
Published – February 26, 2025 08:03 pm IST