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HomeNewsAfter Rs 200 Crore Found In Raids, UP Businessman Arrested

After Rs 200 Crore Found In Raids, UP Businessman Arrested


After Rs 200 Crore Found In Raids, UP Businessman Arrested

Piyush Jain has been arrested following a raid at his premises.

Lucknow:

Kanpur businessman Piyush Jain has been arrested for evasion of Items and Companies Tax. Mr Jain just lately made headlines after footage of a raid at his premises displaying officers counting heaps of foreign money notes with be aware counting machines went viral just lately. Round 200 crore rupees in money have been seized from his dwelling.

Directorate Basic of GST Intelligence (DGGI) Ahmedabad has recovered Rs 10 crore extra cash from the manufacturing facility and residence of fragrance businessman Piyush Jain, promotor of Odochem Industries of Kannauj district in Uttar Pradesh, official sources instructed ANI.

Unaccounted sandalwood oil, perfumes value crores have additionally been seized from Mr Jain’s manufacturing facility, sources mentioned. 

When the Directorate Basic of GST Intelligence (DGGI) and Native Central GST group had reached Mr Jain’s premises on day one of many searches, he ran away and got here again after two hours on a number of calls by investigating officers, sources instructed information company ANI.

Raids have been additionally carried out at workplaces and godowns owned by a transporter – M/s Ganpati Street Carriers, additionally in Kanpur – after which the motion shifted to Piyush Jain’s premises.

“That is the most important restoration within the historical past of the CBIC. No arrest has taken place up to now,” Vivek Johri, the Chairman of the Central Board of Oblique Taxes and Customs (CBIC), instructed information company ANI on Friday.

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