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UP Businessman Piyush Jain Arrested Over ₹ 284 Crore in Raid, Counting Still On

UP Businessman Piyush Jain Arrested Over ₹ 284 Crore in Raid, Counting Still On

A team of Income Tax officers raided Kanpur-based businessman, Piyush Jain and found Rs. 257 crores of cash. At Piyush Jain’s house, officials found documents related to 16 expensive properties, 7 in Kanauj, 1 in Delhi, 2 in Mumbai, 2 in Dubai, and others. Moreover, cash and gold in several kilograms have been seized from Piyush Jain’s house. He was booked under Section 69 of the CGST (Central Goods and Services Tax) act.

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The raid was carried out at godowns and offices owned by Piyush Jain. After 120 hours of a long raid, Piyush Jain was arrested. At Piyush's ancestral house, cops found 18 lockers with around 500 keys. While the Income Tax and DGGI officials raided Piyush's house, the whole family had been in Delhi for Piyush’s father's treatment.

Piyush's younger brother had moved to Jharkhand along with his entire family. Income Tax Department is investigating and will seize his offices in Kanpur, Kannauj, and Mumbai. Vivek Johri, Chairman of Central Board of Indirect Taxes and Customs (CBIC) says, ‘This is the biggest recovery in the history of the CBIC’.

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