Enforcement Directorate charges of illegal fund transfer on Ashok Jain, on 3 July 1998, Ashok Kumar Jain, then Chairman of Bennett, Coleman & Co. Ltd, parent company of The Times of India was arrested in his Mumbai residence, after 18 months of legal wrangling with Enforcement Directorate for alleged violations of illegal transfer of funds to a tune of US$1.25 million to an overseas account.
Shortly after arrest Ashok Jain complained of chest pain and was taken to hospital. He later fled to USA where he died 4 February 1999, following heart surgery.
One of the main allegations were that Ashok Jain maintained an illegal account with Handelsbanken, a Swissbank in Zurich and transferred $150,000 from Handelsbanken to the account of N.S. Hoon in Bank Rothschild AG, Zurich for which he received an undeclared $1.25 million from Keshav Bangur in lieu of shares in Bank of Rajasthan.
Apart from that allegations of holding shares in many Mauritius-based companies and the ED claimed in courts that Ashok Jain was feigning sickness to avoid interrogation and detention. The then BJP leader Atal Bihari Vajpayee accused the then Prime minister I. K. Gujral of shielding the Jains due to family relations.
India Honest regrets, why there is hesitation in changing the spelling of word #Presstitute, which is earnestly needed to be done for the sake of the big howling #Presstitue Arnab Goswami.
People need an answer to that, how long we will go on watching such unashamed coward in the name of free press, twisting facts of moral humanity for false accusations .