Kanpur (UP), Sep 8 (PTI) Perfume businessman Piyush Jain, whose premises were raided last year and around Rs 200 crore in cash and 23 kg of gold were seized by central agencies, was released on bail on Thursday after spending eight months in jail here, officials said.

His arrest just before the Uttar Pradesh Assembly polls had led to a row, with the BJP calling the Kanpur-based perfume trader a "friend" of the Samajwadi Party (SP). But the opposition party had alleged that Jain belonged to the BJP.

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"Piyush Jain was released from jail following the release order issued by the special Chief Judicial Magistrate (CJM)," said Kanpur Jail Superintendent Bidhu Dutt Pandey.

The release permit was issued by the Special CJM after Jain's bail plea was accepted by the Allahabad High court last week.

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The Special CJM directed to file two sureties each of Rs 10 lakh which were made by his family members.

Jain was arrested on December 26 after the raids at his residence led to the recovery of huge cash and other valuables by the Directorate General of GST Intelligence (DGGI).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)