Lucknow: The Enforcement Directorate (ED) has issued another notice to Nikant Jain, a close associate of suspended IAS officer Abhishek Prakash, in connection with an ongoing money laundering and bribery investigation. Jain, who was previously arrested in March and later released on bail, is reportedly missing and has not responded to the ED’s summons.
The situation came to light when the ED, during a raid conducted on August 7, discovered that Nikant Jain had been released on bail — a fact previously unknown even to the investigating agency.
ED Tightens Grip as Jain Remains Untraceable
Nikant Jain has remained unreachable since his bail, prompting the ED to issue another notice to compel his appearance for questioning. According to ED sources, several properties linked to Jain have been identified, but most are reportedly held in benami names (others’ names).
“We have reason to believe that Jain purchased properties through proxies to hide the true ownership. He will be questioned on these assets,” said an ED official familiar with the investigation.
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FIR and Bribery Allegations
The case against Nikant Jain first gained momentum following an FIR filed on March 20 by Vishwajeet, a representative of a solar energy firm that was attempting to set up operations in Uttar Pradesh. The FIR, filed at Gomtinagar Police Station, accused Jain of demanding a bribe on behalf of IAS officer Abhishek Prakash, who was then serving as the CEO of Invest UP.
Following the complaint, Jain was arrested immediately, but later granted bail under unclear circumstances. His release was only discovered during the ED’s August raids, which targeted five properties linked to Jain.
Properties, Proxies, and Paper Trails
The ED is now investigating properties allegedly acquired by Jain under different names, including some suspected to be in the names of family members and associates. The agency is also examining the assets of Jain’s brother, Sukant Jain, as part of a wider inquiry into the alleged misuse of government influence and public office.
Documents recovered during raids on the residence of Saurabh Seth, director in one of Jain’s companies, have also come under scrutiny. These documents reportedly include financial records and property papers that may further establish Jain’s role in the alleged money laundering operation.
What Happens Next?
With Jain still absconding, the ED is said to be considering coercive measures if he fails to respond to the latest notice. Investigators are building a case not only against Jain but also mapping the larger network of influence involving Abhishek Prakash and possible links to other officials or beneficiaries.
The ED is expected to summon additional individuals connected to Jain’s companies and financial dealings in the coming weeks.
