Kanpur. After securing bail from the High Court in the case of gold recovered from perfume merchant Piyush Jain, the ACMM I court on Wednesday granted his release and sent him to prison. Piyush posted a bank guarantee and bond of one crore by order of the High Court . At the same time, in the case of recovered rupees, the virtual court extended custody. Therefore, Piyush Jain will have to stay in jail until August 24.
perfume merchant Piyush Jain K Anandpuri’s house and business in Kannauj was raided by DRI Ahmedabad team in December 2021. During the raid, DRI obtained Rs 196 crore from Anandpuri while 23 kg of foreign gold and 600 liters of sandalwood oil were recovered from the Kannauj-based company. On July 27, in the Foreign Gold case, the High Court, while accepting bail from the perfume merchant, ordered his release on two bails of Rs 20 lakh each and a surety of Rs one crore. After the High Court order, at the request of Odochem Industry, gave a bank guarantee of one crore of rupees.
On August 4, Piyush’s family members delivered a copy of the High Court order and a bank guarantee to the DRI. Thereupon, the DRI approached the bank regarding the veracity of the bank guarantee, on which bank of india Hardoi’s area manager confirmed the bank guarantee. Meanwhile, the hearing in the recovered Rs 197 crore case will also be held in the virtual court. Special Prosecutor Ambareesh Tandon said a letter had been delivered to the court confirming the bank guarantee on behalf of the DRI . Whereupon the court accepted this and ordered his release. Instead of security of 20 lakhs, RC of two trucks was installed. However, Piyush will not yet be released as his pre-trial detention in case of money recovery has been extended by the virtual court until August 24.
Read also: Schools will be saved from cyber fraud, cyber hygiene lessons will be given to children by telling about online dangers
Decision reserved on bail for 197 crores
Apart from securing bail in the gold recovery case, Piyush Jain also posted bail in the High Court in the recovered Rs 197 crore case. The High Court reserved the decision on the matter. He has yet to get bail in the money laundering case.
