Wed Feb 26 14:33:46 UTC 2025: **Hyderabad Enforcement Directorate Seizes ₹7.98 Crore in Psychotropic Drug Smuggling Case**
HYDERABAD, February 26, 2025 – The Directorate of Enforcement (ED) in Hyderabad has provisionally attached assets worth ₹7.98 crore belonging to Aashish Jain and his family. The assets, comprising 22 immovable and eight movable properties, were seized in connection with an ongoing investigation into the illegal export of psychotropic substances.
The investigation, launched based on a May 4, 2022 report by the Narcotics Control Bureau (NCB), Hyderabad, centers around M/s JR Infinity Private Limited, a company owned by Jain. Authorities allege that Jain operated an illegal online pharmacy, exporting drugs like alprazolam, zolpidem, and others overseas. The NCB’s initial search uncovered ₹3.72 crore in Indian and foreign currency, along with evidence supporting the illegal export claims.
The ED’s investigation revealed that Jain established M/s JR Infinity Pvt. Ltd. specifically for this illicit trade, violating the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. Furthermore, the ED found that Jain and his family received over ₹4.50 crore in foreign remittances before the company’s incorporation, indicating prior illegal drug sales. The total estimated proceeds of the crime are pegged at ₹12.76 crore.
Seized assets include land in Indore worth ₹6.52 crore and bank balances/fixed deposits totaling ₹1.46 crore, all held in the names of Jain and his family. The ED alleges that illicit funds were used to purchase these properties and create fixed deposits. The investigation is ongoing.
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