Cough syrup racket: LOC against prime suspect Shubham Jaiswal; properties worth Rs 40 crore linked to him

Police action followed intelligence inputs suggesting that Jaiswal had fled the country and is suspected to be hiding in Dubai.

As for the properties, authorities have initiated a comprehensive verification exercise, involving several government agencies, to examine land records, building approvals and transaction histories. Investigators are also probing the source of funds used to acquire these assets, suspecting that the proceeds may be linked to the racket.

Responding to queries on whether properties worth Rs 40 crore linked to the accused had been identified in the city, Commissioner Agarwal said the verification process was ongoing and that the value of the assets under scrutiny could increase as the investigation progresses. He added that coercive action against the properties would be initiated only after documentary evidence and ownership records are fully established.

Sources said following intelligence inputs, police shared details of the properties with the registry office and the tehsil administration to verify ownership and transaction records. While confirmations have been received for some properties, verification in several others is pending.

The Varanasi Development Authority (VDA) has also been roped in, with officials asked to examine whether the construction of the identified properties conforms to the maps and approvals granted by the authority, sources added.

As many as 78 persons have been arrested so far across Uttar Pradesh in connection with the racket, while action has been initiated against 134 firms, officials said.

The ongoing winter session of the UP Assembly also witnessed heated exchanges over the racket, with the BJP and Samajwadi Party trading charges.

In view of the scale of the operation and its spread across multiple districts, the state government had constituted a three-member Special Investigation Team (SIT), headed by an officer of Inspector General rank, to oversee the probe into the illegal storage, sale and trafficking of codeine-based cough syrup and other narcotic medicines.

According to an official, the SIT will also examine illegal financial transactions linked to the trafficking of codeine syrup, including diversion of consignments, inter-state syndicates and suspected money laundering. The team has further been tasked with initiating extradition proceedings against accused persons who have fled the country to evade arrest.