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Piyush Jain Kanpur raid: Rs 195 crore cash, Dubai property documents seized in 120-hour-long raid

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Piyush Jain Kanpur raid: Documents pertaining to 16 expensive properties were seized during the raid at Kanpur perfume trader Piyush Jain’s house that lasted over 120 hours. Two of the properties have been traced in Dubai.

Stacks of notes seized by Income Tax officials from Piyush Jain's residence in Kanpur during a raid (PTI)

Stacks of notes seized by Income Tax officials from Piyush Jain’s residence in Kanpur during a raid (PTI)

Documents pertaining to 16 expensive properties were found during the raid at Kanpur perfume trader Piyush Jain’s house. Four of these properties are in Kanpur, 7 in Kanauj, 2 in Mumbai, and 1 is in Delhi. Two properties have been traced in Dubai.

In addition to the cash and property papers, several kilograms of gold was also seized from Piyush Jain’s house.

ALSO READ | Kanpur-based businessman Piyush Jain arrested on charges of tax evasion

Kanpur-based businessman Piyush Jain was arrested on charges of tax evasion. Jain was booked under Section 69 of the Central Goods and Services Tax (CGST) Act. Piyush Jain was arrested after an investigation that lasted over 120 hours. He was interrogated for nearly 50 hours before being placed under arrest.

Last week, a joint team of the Income Tax department and the Directorate General of GST Intelligence (DGGI) conducted a raid at Piyush Jain’s Kanpur house and found Rs 195 crore in cash.

WATCH | Kanpur raid: Container used to carry Rs 150 crore recovered by tax officials

The cops have found 18 lockers in a cellar at Piyush Jain’s ancestral house in Kanauj. They have also found a bunch of around 500 keys, which they are trying to use to open the locker. According to sources, despite his massive property, he used old and dilapidated cars to avoid tax sleuths.

His domestic help told Aaj Tak that on December 22, when the joint team of the Income Tax department and DGGI officials arrived at his place in Kanpur, Piyush Jain was in Delhi. “The whole family had gone to Delhi for his father’s treatment. Only his two sons were present at home,” the domestic help said. Jain returned after the investigating officials called him.

Piyush Jain’s younger brother had gone to Jharkhand with his family.

Piyush Jain used to conduct his business at Kanpur’s Ittarwali Gali, known for perfume trade. He has offices in Kannauj, Kanpur and Mumbai. During the Kanpur raid, the Income Tax Department also found around 40 companies through which Jain would conduct his business.

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