ED Attaches Assets Worth Rs. 7.98 Crore in Illegal Export of Psychotropic Substances Case
(Judicial Quest News Network)
Hyderabad,26, February, 2025.The Directorate of Enforcement (ED), Hyderabad Zonal Office, has provisionally attached assets worth Rs. 7.98 crore, including 22 immovable and 8 movable properties, under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a case involving the illegal export of psychotropic substances.
The investigation was initiated against M/s JR Infinity Private Limited, its owner Aashish Jain, and his family members based on a report filed by the Narcotics Control Bureau (NCB) on May 4, 2022. The report accused Aashish Jain of operating an illegal internet pharmacy business from the premises of M/s JR Infinity Private Limited and unlawfully exporting controlled substances such as Alprazolam, Zolpidem, Lorazepam, Clonazepam, Hydrocodone, and Oxycodone under the guise of providing telemarketing and search engine optimization services.
During searches, NCB seized Rs. 3.72 crore in Indian and foreign currency along with incriminating evidence of illegal exports. ED’s investigation revealed that Aashish Jain used the company to facilitate the export of psychotropic substances like Alprazolam, Tramadol, and Diazepam in violation of the NDPS Act, 1985, generating proceeds of crime.
Further inquiry exposed that Jain and his family had received over Rs. 4.50 crore in foreign remittances into personal accounts, sourced from illegal drug sales abroad. The total proceeds of crime (POC) identified during the PMLA investigation amounted to approximately Rs. 12.76 crore.
The attached assets include land parcels worth Rs. 6.52 crore in Indore, Madhya Pradesh, registered in the names of Jain and his family, and bank balances and fixed deposits valued at Rs. 1.46 crore.
The investigation is ongoing as ED continues to trace the illicit financial network behind this illegal operation.
