piyush jain: How much cash and gold was confiscated from Piyush Jain? Shocking information provided by the Center

Kanpur Piyush Jain, a well-known perfume trader from Kanpur, has been arrested on charges of illegal possession of property. During the six-day raid on his house, a large amount of real estate was found. His house in Kanpur was raided by the Central Board of Indirect Taxes and Customs (CBIC) on December 22. The raid ended on December 27, today. The figure that came to light after this is shocking. Now the official information of this raid has come to light. This information has been given by the Union Finance Ministry.

Details of the seizure have been released by the CBI after the end of the search operation. The board informed that the search of the house of the partner of Messrs. Odochem Industries has been started from 22nd December. Accordingly, the team reached Anandpuri, Kanpur residence to conduct the raid. The raid ended on Monday. A large amount of cash was seized during the search operation. Cash worth Rs 177.45 crore has been seized from the area.

The largest seizure in the history of the CBIC

This is the largest cash seizure ever, the CBIC said. Besides, a large number of documents were also seized from the area. The scrutiny of those documents is underway. Apart from the premises, DGGI officials also raided the residential and factory premises of Odochem Industries in Kannauj. The search operation in Kannauj will be completed today. Cash worth Rs 17 crore has been seized from here. Thus, a total of Rs 194.45 crore in cash has been seized from Piyush Jain’s two locations. SBI officials are counting the cash.

DRI will investigate the seized gold

23 kg of gold has also been seized from Piyush Jain’s house. Foreign symbols have been found in the confiscated sopa. This has also raised suspicions of smuggling from abroad. Therefore, the task of investigating the seized gold has been handed over to the Directorate of Revenue Intelligence (DRI). It is considered important now. Besides, more than 600 kg of sandalwood oil was seized from the basement. Its market value is said to be around Rs 6 crore. Apart from this, a large quantity of raw material for making perfume has been seized from the perfume factory of Kannauj. An inquiry is also underway in this regard.

piyush jain arrested: How did perfume trader get Rs 257 crore? In front of shocking information

Piyush Jain confesses to GST evasion

Piyush Jain, a partner of Odochem Industries, was questioned by DGGI officials on the basis of evidence found in the investigation. His reply was recorded during the interrogation on December 25 and 26. Piyush Jain has admitted that the cash seized from his residence was for sale without GST, under Section 70 of the Act. In addition, there has been a case of massive GST evasion from Messrs. Odochem Industries, Kannauj.

piyush jain: abb! Cash worth Rs 257 crore, 250 kg silver, 25 kg gold and 300 keys.

According to the CBI, Piyush Jain was arrested on December 26 on the basis of all the witnesses, evidence and allegations. He was arrested under Section 132 of the CGST Act and produced in court on December 27. Evidence gathered during the raids is being thoroughly investigated to uncover tax evasion, the investigating agency said.