Jain, chairman of The Times of India group of newspapers, is in judicial custody till July 15 for alleged FERA violations. He was first remanded in judicial custody on July 3 and on the same day, was admitted to the government-owned J J Hospital. On July 5, Jain was moved to the Bombay Hospital following an order by the additional chief metropolitan magistrate R B Chorge. His remand was extended on July 6 to July 15 and the order on his bail application had been reserved till today.

Dixit also directed that a panel of five doctors be appointed with the panel head selected by the additional director general of health services, Government of India. One of the five doctors may be from Bombay Hospital, the magistrate directed. Only the operative part of the magistrate's order was announcedtoday, the whole text of the order will be available tomorrow.

The Court also ruled today that Jain would be shifted to Delhi only if the panel so appointed certified him fit to be moved. The FERA case against Jain is being investigated in Delhi, and the ED had sought permission to take him to Delhi by air.

The ED had pleaded that Jain be examined by a panel of independent doctors, led by the additional DG, Health Services, since Bombay Hospital was virtually a ``family hospital'' for Jain, and no unbiased reports on his conditions could be expected from there. Jain's counsel, S B Jaisinghani had taken strong objection to the submissions.

The ED is investigating certain transactions involving the transfer of Rs 4 crore (1.25 million US dollars) abroad in foreign currency allegedly into a foreign account, besides an alleged transfer of US $ 21,000 to one M M Sehgal abroad and another transfer of US $ 11,000 to the solicitors of Sehgal.