The High Court had granted bail to Piyush Jain on September 1. The trial court had ordered the release after a personal bond of Rs 10 lakh and two sureties of Rs 10 lakh each. After the bail was filed, they were sent for verification. After verification, the papers were sent to the court on Wednesday itself, from where a technical problem was found in the release order.
The Allahabad High Court had granted bail in connection with the recovery of cash of about Rs 196.57 crore from the premises of Kannauj-based perfume trader Piyush Jain. The court had directed him to be released with a personal bond and two sureties. Justice Subhash Vidyarthi has given this order while accepting the application of Piyush Jain. The court had reserved the order on Piyush’s bail application on August 1, which was released on Thursday.
The Allahabad High Court has granted bail in the case of recovery of cash of about Rs 196.57 crore from the premises of Kannauj-based perfume trader Piyush Jain. Along with this, the court directed him to be released with a personal bond and two guarantees.
The team of DGGI Ahmedabad started raids on 22 December 2021 at the residence of perfume trader Piyush Jain, which lasted till 28 December. During this, the team had recovered 196.57 crore cash and 23 kg gold. During this recovery, Piyush was arrested on 26 December and sent to jail the next day on 27 December. DGGI filed a complaint in the court of Special Chief Judicial Magistrate (Economic Offenses) / Additional Metropolitan Magistrate (Third) on 22 February 2022, Kanpur. The matter is going on in the same court.
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