Piyush Jain has been arrested after raids on his premises.
Lucknow:
Kanpur-based businessman Piyush Jain has been arrested for evasion of goods and services tax. Mr Jain recently made headlines after photographs of a raid on his premises showed officials counting stacks of notes with note counting machines. 180 crore cash was recovered from his house.
Official sources told ANI that Directorate General of GST Intelligence (DGGI) Ahmedabad has recovered over Rs 10 crore in cash from the factory and residence of perfume baron Piyush Jain, promoter of Odochem Industries in Kannauj district in Uttar Pradesh.
Sources said that unaccounted sandalwood oil, perfume worth crores have also been seized from Mr. Jain’s factory.
Sources told news agency ANI that when the Directorate General of GST Intelligence (DGGI) and the local Central GST team reached Mr. Jain’s premises on the day of the search, he fled and came back two hours later on several calls by the investigating officers.
Raids were also conducted on offices and godowns owned by a transporter – also at M/s Ganpati Road Carriers, Kanpur – following which the action shifted to Piyush Jain’s premises.
Central Board of Indirect Taxes and Customs (CBIC) chairman Vivek Johri told news agency ANI on Friday, “This is the biggest recovery in the history of CBIC. No arrests have been made so far.”
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