Anushka Pathak, Mumbai Uncensored, 6th January 2021:
A businessman named Piyush Jain from Kanpur was arrested after a 120-hour raid by a combined team of Income Tax and the Directorate General of GST Intelligence (DGGI). As per the latest data, cash worth nearly 300 crores was recovered during the raid.
Officials involved in the raid had to call for around 20 cash counting machines as well as a team of SBI officials to count the money. Other things that were seized included documents of properties (two in Dubai) and gold with foreign tags. The counting concluded on Tuesday, 28th December.
Piyush Jain was leading a simple life, as per his neighbors. A neighbor revealed that he would travel by foot or on his scooter. He would attend functions wearing simple clothes, wouldn’t indulge in other’s affairs, and kept a low profile.
Piyush Jain started as a salesman in a Mumbai-based company. Having a master’s degree in Chemistry, he then started making compounds for soap, detergents, etc. As he grew up, he started making edible compounds in tobacco and gutkha products. Eventually, he started his perfume business.
As told by the DGGI, the story of how Piyush Jain was caught is an interesting one. The revelation began when DGGI decided to take action in a matter related to the non-payment of tobacco and pan masala which were kept in four trucks.
The trucks belonged to Ganpati Road Carrier. The DGGI then, through the trucks, reached the Shikhar Pan Masala factory where he found more than 200 fake invoices in the name of Ganpati Road Carrier. Shikhar factory then admitted to owing more than 3 crores of tax.
It was then revealed that they had a partner named Odocam Industries. Here’s where things get interesting. Piyush Jain was the owner of Odocam Industries. Officials raided the registered address which was Jain’s residence in Anandpuri, Kanpur.
According to the DGGI, more than Rs 177 crore was seized from this house by the officials. After this, the officials raided the factory and Jain’s Kannauj residence where they recovered Rs 17 crore in cash, 23 kg of gold, and sandalwood oil worth Rs 6 crore. All of this was hidden in an underground tank.
Piyush Jain was then arrested on the night of 26th December, 40 hours after the raid on his premises. Meanwhile, a political war has begun between BJP and SP where each other are blaming for the tax evasion by Piyush Jain.
