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1h ago

UP SIT Flags Rs 425 Crore Irregularities in Codeine Diversion Probe as Two Held in Varanasi

An IG-led team is pursuing a financial trail at Shaili Traders.

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According to the interrogation, the operation expanded by opening fake firms using acquaintances’ drug licences, enabling purchases to appear genuine on paper while actual stock was allegedly rerouted to traffickers (REPRESENTATIVE IMAGE)
Photo: SNS

Overview

  • Police in Varanasi arrested Vishal Kumar Jaiswal and Badal Arya for allegedly using forged drug licences to channel large volumes of codeine-based cough syrup tied to Shaili Traders.
  • Investigators reported preliminary financial irregularities of about Rs 425 crore in transactions linked to Jharkhand-based Shaili Traders.
  • Roughly 30 bank accounts connected to the network have been frozen, with about Rs 60 lakh blocked so far, according to officials.
  • Notices were issued to owners of several named firms and Shaili Traders’ chartered accountant Vishnu Agarwal was directed to submit full financial records by December 10.
  • Authorities said the crackdown has produced 128 FIRs across 28 districts and they have traced fugitive Shubham Jaiswal to Dubai for action under law.