The Directorate General of GST Intelligence has informed that the greatest seizure of Indian history has been done against the Kanpur businessman Piyush Jain. About Rs 195 crore in cash and 23 kilograms of gold has been found at his property premises. There was more than Rs 6 crore worth of sandalwood oil as well. The man owned property in both Kanpur and Ujjain and these has been found in each of his properties.
The residential premises were searched by the officials with rigorous attention. Cash has been found at his factory as well. The DGGI officers were surprised to find such a huge amount of cash within the entire property of Piyush Jain.
Raid At The House Of Kanpur Businessman Piyush Jain
The DGGI officers had to take help from the State Bank of India in order to search the premises of Kanpur businessman Piyush Jain. The currency counting machines which are used by the State Bank of India had to be carried to the spot in order to find out the total amount of money kept at the residential property of this tax-evading businessman.
A huge amount of perfumery elements were found in his basement as well. The sandalwood oil was almost 600 kilograms by weight and had a market value of Rs 6 crore.
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Piyush Jain Found Guilty Under CGST Act
It has been informed that the seizure at the house of Kanpur businessman Piyush Jain has been one of the largest in the history of Indian raids. The other premises are under strict scrutiny at this moment. The documents which have been seized under these properties have been sent for scrutiny as well.
The statement of Piyush Jain has been recorded on 25th December under the 70th Section of the CGST Act. The interrogators found suspicious statements in his words and decided to go through his premises to find the right evidence for hidden elements.
Did He Hide Something Else As Well?
The seizure at the house of Kanpur businessman Piyush Jain indicated that he might have some other cash or similar element hidden at some part of his property. Do you think he is hiding something even now? Let us know in the comment section!
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