Raids at industrialist Piyush Jain's premises in Kanpur concludes

The raids, which started on December 22, on the premises of Kanpur perfume trader Piyush Jain is finally over, the Directorate General of Goods and Services Tax Intelligence (DGGI) has said.

Several documents, huge cash, gold and other precious materials were recovered during the searches which concluded on Wednesday.

On Wednesday morning, Pratyush Jain-- son of Piyush Jain-- was seen locking the house and leaving with the DGGI team for further interrogation.

Zakir Hussain, the Additional Director of DGGI said that they have recovered Rs 19 crore more in cash besides gold and other things.

The team was at Jain's residence at Chhipati Mohalla of Kannuj for the past eight days.

"It is Piyush Jain's house. This will be closed for few days. His son Pratyush locked the house and he has the key. For the time being we are taking him and will free him after making panchnamas of articles recovered from the house," said the official.

Notably, the counting of notes was on for the past five days with the help of State Bank of India officials and 20 note counting machines. The notes were put in big cartons and sealed by the team. The financial intelligence teams had to take help of extra labourers and a truck to take the cash to SBI branch.

A large number of people had gathered outside his house and local police was called to maintain law and order.

"The raid is finally over and we are relieved. Now, we will be busy preparing case-related documents, few of which will be submitted with different agencies, before the concerned courts. A report is also likely to be given to the government," said the official.