All about the Kanpur businessman, Piyush Jain, on whom the Income Tax raided

Who is Piyush Jain?

Piyush Jain is a businessman of Kanpur. He is in the business of perfume trading. Piyush Jain became the talk of the town when the Income Tax Department and the Directorate General of GST Intelligence (DGGI) raided his residence on Thursday, 23 December 2021.

#WATCH | As per Central Board of Indirect Taxes and Customs chairman Vivek Johri, about Rs 150 crores have been seized in the raid, counting still underway.

Visuals from businessman Piyush Jain's residence in Kanpur. pic.twitter.com/u7aBTJhGxW

— ANI (@ANI) December 24, 2021

Through media, visuals came from his house hose capturing note counting machines scattered all around the ground, which was surrounded by the huge amount of cash in plastic and tapped.

 

Piyush Jain Kanpur Raid: Rs 150 crore Found in Cash

On Thursday, 23 December 2021 a raid by I-T officials were conducted at the house of perfume trader Piyush JAin. After 36 long hours of the search operation, 150 crores rupees were seized. The notes were in so much amount that 5 note counting machines were brought in to calculate the entire cash. Huge amounts of cash were also found folded in papers. 

Income Tax Raid on Piyush Jain

On Friday, 24 December 2021, containers full of cash were seized from the house of Piyush Jain. the Income Tax officials reported that cash amounting to Rs 150 crores are seized until now. 

The GST officials reported that all the money was linked to the dispatch of goods through fake invoices and without any-way bills by a goods transporter. Fake invoices were made in name of imaginary companies and firms.

The invoices were of amount Rs 50,000 each. Around 200 such invoices were found, without any GST payments for the same. Officials found it in the trucks inside the warehouse of the trader. All four trucks are under the custody of GST officials. 

The raids were conducted at multiple locations like Uttar Pradesh, Gujrat and Mumbai in factories of M/s Trimurti Fragrances. Trimurti Fragrances also manufactures the Shikhar Pan Masala and other scented tobacco products. 

GST officials raided the M/s Ganpati Road Carriers and M/s Odochem Industries(perfume supplier). The raid was initially done by the Goods and Services Department but after the huge controversy, Income Tax Department was also called in.

Piyush Jain Biography

Piyush Jain belongs to Uttar Pradesh. He is from Anandpuri and belongs to Chippatti of Kannauj. Jain is the owner of a perfume factory, cold store, and petrol pump in Kannauj. According to the report by the officials he has over 40 companies in which 2 in the Middle East. 

Piyush Jain is a close acquaintance of the Samajwadi Party leader, Akhilesh Yadav.