Express News Service
LUCKNOW: Kanpur-based businessman Piyush Jain was sent to jail on a 14-day remand by Kanpur magistrate Yogita Kumar on Monday. The sleuths of the Ahme-dabad unit of Directorate General of GST Intelligence (DGGI) arrested Jain on Sunday under Section 67 of CGST Act, following the recovery of `284 crore from his Kanpur and Kannauj residences. The searches continued on Monday as well.
As the DGGI team sought Jain’s remand, the court ordered to send him to jail under Section 132 of the CGST Act, confirmed the Special Public Prosecutor, Amrish Tandon. According to the DGGI sources, the searches, which started on Friday, led to the seizure of unaccounted cash to the tune of Rs 177.45 crore from Jain’s Anandnagar house in Kanpur and over Rs 107 crore from his ancestral house in Kannauj, the city of perfumes. However, the DGGI team is yet to confirm the recovered amount.
The raiding agency claimed that Jain had admitted that cash recovered from his premises was related to the sale of goods without payment of taxes. However, the DGGST team had got a case of tax evasion of Rs 31.50 crore registered against the trader.
