Overview

• On August 7 the Enforcement Directorate executed PMLA searches at four locations tied to Nikant Jain in Lucknow.
• Raided sites included Jain’s residence in Viram Khand, two family-linked corporate offices and a hotel where relatives serve as directors.
• Officials reported that incriminating documents were seized and are being examined for evidence of money laundering and quid pro quo deals.
• Investigators are probing an alleged 5% commission demand by Jain to facilitate solar project approvals for Invest Uttar Pradesh.
• A separate FIR at Hazratganj police station accuses Jain and his family members of forging documents to defraud Indian Bank of ₹4 crore.