Perfumer Piyush Jain was released on Thursday from Kanpur jail after spending 254 days behind the bars. A sum of Rs 196 crore and 23 kg gold were found in the walls of the house during a raid in December last year.
Although Jain had been granted bail two days ago, but his release was delayed due to verification of documents.
His wife Kanta Jain and son Priyansh Jain submitted bonds of Rs 10 lakhs each after which he was released.
The team of Directorate General of GST Intelligence (DGGI) Ahmedabad had raided the residence of perfume trader Piyush Jain in Kanpur and his firm in Kannauj on 23 December 2021.
In the raids that lasted for four days, more than Rs 196 crore was recovered from both the places. Also 23 kg of foreign stamped gold and 600 litres of sandalwood oil were recovered.
Two cases were registered against Piyush and he was sent to jail on December 27.