The Central Agencies arrested Kanpur based businessman Piyush Jain on charges of tax evasion. The agencies recovered unaccounted cash over Rs 250 crore in a series of raids. He has been booked under Section 69 of the Central Goods and Services Tax (CGST).
The goods were dispatched via fake invoices and without e-way bills by a goods transporter.
Piyush Jain is a Kanpur based perfume businessman. He used to conduct business at Kanpur’s Ittarwali Gali and he also had offices in Kanpur, Kannauj and Mumbai. The perfume industrialist is likely to be taken to Ahmedabad from Kanpur for further investigation.
According to an official, during the raids on the premises owned by Piyush Jain, cash worth over ₹257 crore as well as golf and silver was recovered.
The CM of Uttarpradesh Yogi Adityanath on December 26 claimed that Piyush Jain is linked to the Samajwadi Party.
“For the past two-three days continuous raids are being conducted on the premises of a person belonging to the SP. Rupees 257 crore in cash and several kilograms of gold and silver was recovered. This money belongs to the poor. There is also evidence of how it was looted.”
The perfume industrialist was placed under arrest and was investigated by the authorities for around 50 hours.