UP: Kanpur perfume trader arrested following recovery of Rs 284 crore | Kanpur News

LUCKNOW/KANPUR: The sleuths of Ahmedabad’s Directorate General of GST Intelligence (DGGI) finally arrested Kanpur-based perfume trader Piyush Jain on Sunday after recovery of Rs 284 crore from his Kanpur and Kannauj residences. According to DGGI sources, the searches which started on Friday, unearthed Rs 177 crore from Jain’s Anandnagar house in Kanpur and Rs 107 crore unaccounted cash from his Kannauj house.
A team of 50 tax officials, comprising units from UP and Gujarat (Ahmedabad) were involved in search operations. Sources privy to the probe said Jain was taken to a safe house and questioned for several hours. A set of questions were posed to him but he was not able to satisfy the investigators. An officer privy to the probe said that Jain was arrested for evasion of tax and making multiple invoices in the name of fake firms.
Sources said that during interrogation, Jain claimed that Rs 284 crore in cash recovered from his houses was his money accumulated after selling 400 kg of gold left by his ancestors.
Piyush told the team that it was his money, said a senior DGGI official privy to the investigation on Sunday. The official added, “He (Piyush) went on to say, if you want, you can deduct the income tax and return the rest.”
On questions regarding the source of the money, he said that the ancestral gold of the house was around 400 kg, which he sold to small jewellers to procure cash, said the official further.
As per the officer, on being asked about the reason for selling gold, the trader said that he had a requirement of cash for investment in business. “Piyush said he sold gold in batches, for the past many years, to small jewellers,” said the DGGI officer.
“He was asked that he had not opened any new firm in the past five years. Business had also not grown. There was no new business plan or blueprint of any new business, yet the gold was sold. But he had no answer,” said the official.
Meanwhile, to investigate the truth of his claims, the investigating officers are engaged in breaking the safes and walls of his ancestral Chhipaiti house in Kannauj. Agencies have also recovered 250 kg of silver and 25 kg of gold from Kannauj residence of Piyush, said the sources.
IT department sources said that there are 36 people inside the businessman’s house and factory, including officers of GST Intelligence and Income Tax. Nine drum ‘sandal’ oil has also been found here and bundles of Rs 2,000 notes have been recovered from cardboard boxes. Note counting machine has also been found in the businessman’s house.
Meanwhile, sources further informed that raids are still on in the ancestral house in Chhipaiti locality of Kannauj. “At around 4pm on Friday evening, the team of DGGI, Ahmedabad, had entered the house with the businessman’s two sons Pratyush and Priyansh inside the residence. Since then, the team members have been indoors,” sources said further and added, “The team has so far cut about 15 cupboards, while 20 locks have been broken. The vault was broken with a gas cutter. So far, information is being received about the recovery of Rs 107 crore from the ancestral house.”
Meanwhile, a cellar has also been found in Piyush’s Kannauj residence. The investigation team has also expressed the apprehension of some more secret lockers in the walls of Piyush Jain’s house. A team of architects and experts have been called from Lucknow to trace them out.
During the searches, some diaries and bills were also found by the officials. It is being said that there is a mention of buying and selling raw materials from many firms. With this, now the team will contact these firms and verify the information recorded in the bills and diary. It is being said that the investigation team has also contacted some people of the city due to which there has been panic among the people associated with the perfume business.

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