Jain attempted to escape when Delhi Police arrived to arrest him at his residence on Saturday, resulting in the chase and eventual arrest.
Warrants for Jain had been issued in relation to a consumer complaint filed by Rajat Babbar in 2017. Four non-bailable warrants and one bailable warrant from the National Consumer Disputes Redressal Commission were pending at the Shahdara police station against him. The latest non-bailable warrant was issued on July 18, 2024, but Jain failed to appear before the commission, according to police.
Deputy Commissioner of Police (Shahdara) Surendra Choudhary stated, “Jain was arrested on Saturday by the STF team of Shahdara at the IGI airport following non-bailable warrants issued against the CEO for failing to appear before the National Consumer Disputes Redressal Commission.”
The managing director and CEO of a subsidiary of the real estate company, Parsvnath Developers, Jain resides in Gurugram, in DLF Phase 2. He has been with Parsvnath Developers Private Limited for 32 years.
Parsvnath Developers, founded in 1984, operates in 37 cities and 13 states across India.
Jain holds a bachelor’s degree in civil engineering from Bharti Vidyapeeth, Pune, and completed his schooling in Khekra, Uttar Pradesh, at Jain Khekra Inter College.
Following his arrest, Jain was presented before the commission on Sunday.
