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Kanpur's businessman, Piyush Jain arrested, 257 crores seized

A 120-hour raid yielded Rs 257 crore in cash and Dubai property documents

Kanpurs businessman, Piyush Jain arrested, 257 crores seized
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During the raid on Kanpur perfume seller Piyush Jain's home, documents referring to 16 high-value properties were discovered. Kanpur has four properties, Kanauj has seven, Mumbai has two, and Delhi has one. In Dubai, two properties have been located.

In addition to the cash and property paperwork, Piyush Jain's home was raided for several kilogrammes of gold.

Piyush Jain, a Kanpur-based businessman, was detained on suspicion of tax cheating. Section 69 of the Central Goods and Services Tax (CGST) Act was used to charge Jain. Piyush Jain was apprehended after a 120-hour-long inquiry. Before being arrested, he was quizzed for approximately 50 hours.

Piyush Jain's Kanpur home was raided last week by a joint team of the Income Tax Department and the Directorate General of GST Intelligence (DGGI), which discovered over Rs 257 crore in cash.

At Piyush Jain's ancestral home in Kanauj, cops discovered 18 lockers. They've also discovered roughly 500 keys, which they're attempting to open the locker with.

His domestic staff informed Aaj Tak that when a joint team of Income Tax and DGGI officials arrived at his Kanpur home on December 22, Piyush Jain was in Delhi. "His entire family had travelled to Delhi for his father's medical care. The domestic worker stated that only his two sons were present at home. Jain returned after being summoned by the investigators.

Piyush Jain's younger brother and his family had moved to Jharkhand.

Piyush Jain used to operate out of Kanpur's Ittarwali Gali, which is noted for its perfume trade. His offices are located in Kannauj, Kanpur, and Mumbai. The Income Tax Department discovered roughly 40 firms through which Jain would conduct his business during the Kanpur operation.


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