New Delhi, Feb 6 (IANS): The Delhi High Court on Monday, taking note of submissions of jailed minister Satyendar Jain's co-accused Ankush and Vaibhav Jain in the Prevention of Money Laundering Act (PMLA) case, listed the matter for the next hearing on February 7.

Appearing for Ankush and Vaibhav Jain, counsel Sushil Kumar Gupta said: "Satyendar Jain has nothing to do with the company. All the companies belong to us."

Special Judge Vikas Dhull had denied the two bail on November 17.

Gupta said: "We were having an effective position in the company. We had sent the money/cash to Kolkata-based companies."

He argued that there are no "proceeds of crime" in the present case and according to the Central Bureau of Investigation (CBI)'s charge sheet, it is generated only at the end of the cheque period.

"The whole fulcrum of a PMLA case lies on the proceeds of crime," he said.

Gupta further argued that the present case uses a disproportionate assets (DA) case, which is a period-specific offence, but to establish an offence under the PMLA, the Enforcement Directorate has to establish "proceeds of crime".

Earlier, Satyendar Jain's counsel senior advocate N. Hariharan asked where is the minister involved in the present case and how is he related to it as the money was Ankush and Vaibhav Jain's and it came back to their account without any premium.

"My (Satyendar Jain's) assets before and after the cheque period remained the same," he had said.