Kanpur: Special chief judicial magistrate/ACMM-II Kanpur Nagar on Monday extended the judicial custody remand of perfume trader Piyush Kumar Jain till July 20 in the gold and huge money recovery case. He appeared before the court virtually.
Piyush was a partner in M/s Odochem Industries. During the raid and search operations conducted by the DGGI Ahmedabad at his office-cum-residential accommodation had seized a huge amount of unaccounted cash to the tune of Rs 196.58 crores and 32 gold bars weighing approximately 23 kg. A case of tax evasion has been launched against him.
According to special public prosecutor Ambarish Tandon, the department of revenue intelligence, Lucknow unit, under the Customs Act had charged him for smuggling gold bars. Piyush’s bail in both cases had been rejected by the district court.
Meanwhile, the accused has moved his bail applications before the high court which will hear the money recovery case on July 6 and gold bar recovery case on July 8. TNN