On February 23, 1982, he was apprehended and his person was searched.
Thereupon the officers of the Enforcement Directorate raided the premises of Ashok Narain and recovered there from three numberebooks.
In the other two numberebooks also were found accounts of several other foreign exchange transactions in which Ashok Narain had apparently engaged himself.
Ashok Narain was interrogated and a statement was recorded from him.
Initially he was remanded to the custody of the Enforcement Directorate and later to judicial custody.
If one of them, detailed particulars of transactions in foreign exchange indulged in by Ashok Narain on behalf of Suresh Kumar Jain, brother of Santosh Kumar Jain, were found written in Ashok Narains handwriting.
We are enable to agree with Shri Kacker.
Some documents, numberebooks and diaries were also recovered.
More items of foreign currency were recovered, as also some articles like electronic watches, cameras, tapes, etc.
The detenu has filed an application for the issue of a writ of habeas companypus under Article 32 of the Constitution.
On October 14, 1981, an order of detention under the COFEPOSA was made by Shri B.B. Gujaral, Additional Secretary to the Government of India, who was specially empowered to make such orders under the COFEPOSA.
He was arrested under Section 35 of the Foreign Exchange Regulation Act.
Some items of foreign currency were seized.
Finally, on April 24, 1981, he was released on bail.
On the information given by him, Room No.
Among the documents seized, was an application for cable transfer of the American Express International Banking Corporation, Hong Kong mentioning Ashok Narain as the person who had purchased dollars of the numberinal value of 5000 dollars from the Bank for effecting a transfer of the amount to one Subhash Sehgal of New York.
12 A, Regal Hotel, Chandni Chowk, Delhi was searched.
The only worthwhile submission made on behalf of the detenu by his learned companynsel, Shri S.N. Kacker was that though the detenu was apprehended in companynection with a breach of the foreign exchange regulation as far back as February 25, 1981, numberprosecution had yet been launched against him and that the order of detention was made as late as in October 1981, thereby indicating that there was numberapprehension that the detenu was likely to engage himself in any activity prejudicial to the augmentation of foreign exchange.
Chinnappa Reddy, J. The Enforcement Directorate of the Ministry of Finance received information that one Santosh Kumar Jain was engaged in illegal foreign exchange operations under the guidance of his father Manak Chand Jain and his brother Suresh Kumar Jain.
