India, Jan. 9 -- A day after Enforcement Directorate conducted raids at the residence of I-PAC head Pratik Jain, the political consultancy firm raised "serious concerns" over the raids, calling the move an "unsettling precedent".

"Officials from the Enforcement Directorate carried out searches at the I-PAC office and at the residence of our Director, Pratik Jain, in Kolkata. It was a difficult and unfortunate day for a professional organisation like I-PAC. We believe this raises serious concerns and sets an unsettling precedent," I-PAC's statement read.

It said that the agency have extended full cooperation and engage with the process in complete accordance with the law.

The ED raid has led to a high drama in West Bengal since Thursday...