Piyush Jain has been arrested following a raid at his premises.
Kanpur businessman Piyush Jain has been arrested for evasion of Goods and Services Tax. Mr Jain recently made headlines after pictures of a raid at his premises showing officials counting heaps of currency notes with note counting machines went viral recently. Over Rs 250 crore in cash have been seized from his home and factory in Kanpur and Kannauj so far.
On Sunday, Directorate General of GST Intelligence (DGGI) Ahmedabad recovered Rs 10 crore more cash from the factory and residence of perfume businessman Piyush Jain, promotor of Odochem Industries of Kannauj district in Uttar Pradesh, official sources told ANI.
Unaccounted sandalwood oil, perfumes worth crores have also been seized from Mr Jain's factory, sources said.
When the Directorate General of GST Intelligence (DGGI) and Local Central GST team had reached Mr Jain's premises on day one of the searches, he ran away and came back after two hours on several calls by investigating officers, sources told news agency ANI.
Raids were also carried out at offices and godowns owned by a transporter - M/s Ganpati Road Carriers, also in Kanpur - after which the action shifted to Piyush Jain's premises.
"This is the biggest recovery in the history of the CBIC. No arrest has taken place so far," Vivek Johri, the Chairman of the Central Board of Indirect Taxes and Customs (CBIC), told news agency ANI on Friday.