Piyush Jain: The UP Perfume Businessman Who Stashed Rs. 196 crores At Home

The biggest story from UP in the past week has not been about our netas in the poll-bound state but about Piyush Jain, a low-profile businessman dealing in perfumes from Kannauj. His factory and residence were raided by tax officials over the past week in Kanpur and Kannauj, throwing up close to Rs 200 crore in cash. The political blame game over the incident apart, the question is how did the businessman - under arrest now - manage to hoard so much cash and valuables without the authorities finding out earlier.