Piyush Jain is expected to be taken to Ahmedabad for questioning.
New Delhi:
Businessman Piyush Jain travels on his old scooter in his hometown of Kannauj. There are two cars parked outside his house – a Qualis and a Maruti. But the central agencies came to know last week that the perfume maker of Kanpur had Deposits above Rs 200 crore,
Jain is done Arrested for evasion of goods and services tax (GST). Officials found Rs 194 crore in cash and 23 kg of gold from his Kannauj home and factory. Images of raids on their premises went viral last week, showing officials using note counting machines to count piles of notes.
The money was allegedly linked to sending the goods by the goods transporter with fake invoices and without e-way bill.
Piyush Jain learned the art of making perfumes and food items from his father, who is a chemist.
Jain started the perfume business in Kanpur and has expanded to various parts of the country in the last 15 years. Now he has a fast growing business in Mumbai and Gujarat.
As the business flourished, Jain and his brother Ambareesh converted their Kanauj home into a 700-square-yard mansion. But locals say that whenever he comes to the city, Jain is seen on his old scooter and leads a simple life.
Along with cash, the officials also seized gold, silver, unaccounted sandal oil, perfume worth crores from Jain’s residence and factory.
After his arrest, Jain is likely to be taken to Ahmedabad for questioning.
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