This Article is From Dec 28, 2021

Revenue Team Roped In As Gold With Foreign Marking Found At UP Factory

Till now, over Rs 194.45 crores of cash, 23 kg gold and 600 kg sandalwood has been recovered from the possession of Kanpur-based businessman Piyush Jain.

Revenue Team Roped In As Gold With Foreign Marking Found At UP Factory

Piyush Jain has been sent to 14 days of judicial custody by a Kanpur Court. (File)

New Delhi:

The Directorate of Revenue Intelligence (DRI) has been roped after the Directorate General of GST Intelligence (DGGI) recovered approximately 23 kg of gold from the factory premises of Kanpur-based businessman Piyush Jain on Monday.

A senior DRI official said, "During the raid in residential/factory premises of M/s Odochem Industries at Kannauj approximately 23 kgs of gold was recovered. There were several gold bars that have foreign markings on them."

"We will be investigating to find out if the gold was smuggled to India and who were people involved in it. DRI is being roped in for necessary investigations," he said.

After Kanpur, a joint team of DGGI and Local Central GST took Jain to his factory and residence in Kannauj which resulted in a cash recovery of cash and gold.

The raid in the residential and factory premises of Odochem Industries is still underway.

Till now, over Rs 194.45 crores of cash, 23 kg gold and 600 kg sandalwood has been recovered from the possession of Piyush Jain.

The accused has been sent to 14 days of judicial custody by a Kanpur Court.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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