Lucknow: Perfume trader Piyush Jain has been arrested after Rs. 284 crores were found at his premises, after the were raided by central agencies. Jain recently made headlines after pictures of a raid at his premises showing officials counting heaps of currency notes with note counting machines surfaced. Unaccounted sandalwood oil, perfumes worth crores were also seized from Jain’s factory, sources said.
Raids were also carried out at offices and godowns owned by a transporter – M/s Ganpati Road Carriers, also in Kanpur – after which the action shifted to Piyush Jain’s premises.
Sources said that during interrogation, Jain claimed that Rs 284 crore in cash recovered from his houses was his money accumulated after selling 400 kg of gold left by his ancestors.
“This is the biggest recovery in the history of the Central Board of Indirect Taxes and Customs (CBIC),” said Vivek Johri, the Chairman of the Central Board of Indirect Taxes and Customs (CBIC).
According to DGGI sources, the searches which started on Friday, unearthed Rs 177 crore from Jain’s Anandnagar house in Kanpur and Rs 107 crore unaccounted cash from his Kannauj house.
Documents pertaining to 16 expensive properties were found during the raid at Kanpur perfume trader Piyush Jain’s house. Four of these properties are in Kanpur, 7 in Kanauj, 2 in Mumbai, and 1 is in Delhi. Two properties have been traced in Dubai.
He has been arrested on charges of tax evasion. Jain was booked under Section 69 of the Central Goods and Services Tax (CGST) Act. Piyush Jain was arrested after an investigation that lasted over 120 hours. He was interrogated for nearly 50 hours before being placed under arrest.
Last week, a joint team of the Income Tax department and the Directorate General of GST Intelligence (DGGI) conducted a raid at Piyush Jain’s Kanpur house.
The cops have found 18 lockers at Piyush Jain’s ancestral house in Kanauj. They have also found a bunch of around 500 keys which they are trying to use to open the locker.
His domestic help told Aaj Tak that on December 22, when the joint team of the Income Tax department and DGGI officials arrived at his place in Kanpur, Piyush Jain was in Delhi. “The whole family had gone to Delhi for his father’s treatment. Only his two sons were present at home,” the domestic help said. Jain returned after the investigating officials called him.
Piyush Jain’s younger brother had gone to Jharkhand with his family.
Piyush Jain used to conduct his business at Kanpur’s Ittarwali Gali, known for perfume trade. He has offices in Kannauj, Kanpur and Mumbai. During the Kanpur raid, the Income Tax Department also found around 40 companies through which Jain would conduct his business.
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