ED Seizes ₹17.4 Million Cash from Jai Corp Directors, Freezes ₹990 Million Assets

The Enforcement Directorate (ED) has initiated significant enforcement action against Jai Corp directors, involving substantial cash seizures and asset freezing measures. The regulatory action represents a major development for the plastic products company, with the agency unable to ascertain the complete financial impact on the company at this stage.

Cash Seizure from Directors

The ED has seized ₹17.40 million in cash from two directors of Jai Corp. This direct cash seizure indicates the agency's enforcement measures against key company personnel as part of their ongoing investigation.

Asset Freezing Action

Beyond the cash seizure, the Enforcement Directorate has frozen demat accounts and mutual fund folios of the unit amounting to ₹990.00 million. The frozen assets represent a significant portion of wealth linked to the investigation.

Action Type	Amount
Cash Seized	₹17.40 million
Assets Frozen	₹990.00 million
Total Value	₹1,007.40 million

Financial Impact Assessment

The ED has stated that it is not possible to ascertain the financial impact on the company at this stage. The enforcement actions involve both immediate cash seizures and asset freezing measures, but the full implications for Jai Corp's operations and business performance remain unclear.

Regulatory Implications

The ED's actions against the company's directors represent significant regulatory scrutiny. The enforcement measures involve both immediate cash seizures and longer-term asset freezing of demat accounts and mutual fund folios, indicating the comprehensive scope of the agency's investigation into Jai Corp's affairs.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.00%	-10.86%	-8.55%	+4.99%	-38.66%	+26.37%

Jai Corp Limited has provided detailed clarification regarding Enforcement Directorate (ED) actions following searches conducted on December 19, 2025. The company disclosed significant financial implications including asset freezing and cash seizures in its latest regulatory filing dated December 23, 2025.

ED Order and Asset Freezing

The Mumbai Zonal Office-II of the Directorate of Enforcement issued an order on December 19, 2025, under Section 17(1-A) of the Prevention of Money Laundering Act, 2002. The order directed freezing of substantial assets belonging to the company's subsidiary.

Asset Details:	Value/Amount
Frozen Assets Value:	₹99.00 crores
Asset Type:	Demat accounts and mutual fund folios
Entity Affected:	Urban Infrastructure Venture Capital Ltd. (UIVCL)
Valuation Date:	December 19, 2025

Cash Seizures from Directors' Residences

ED officials seized cash during searches at promoter residences, with the company providing specific details about the amounts recovered.

Seizure Details:	Information
Total Cash Seized:	₹1.74 crores
Source Locations:	Directors' residences
Affected Directors:	Mr. Virendra Jain, Mr. Gaurav Jain
Date of Seizure:	December 19, 2025

Search Operations Coverage

The ED searches covered multiple locations including corporate premises and key management personnel residences.

Search Locations:	Details
Corporate Office:	Mumbai office (9:28 hours to 23:50 hours)
Chairman Residence:	Mr. Anand Jain
Vice-Chairman Residence:	Mr. Virendra Jain
Managing Director Residence:	Mr. Gaurav Jain

Company's Disclosure Position

JaiCorp Limited explained its delayed disclosure approach, stating there was no specific requirement under Regulation 30 of SEBI (LODR) Regulations, 2015 to immediately disclose ED orders. The company was evaluating the legal position and ascertaining facts before making disclosures to avoid hasty or incorrect information sharing.

Financial Impact Assessment

The company stated that since the matter is currently sub-judice and investigation outcome is pending, it is not possible to ascertain the financial impact at this stage. The clarification was provided in response to BSE and NSE queries regarding media reports about the ED actions.