Last Updated:

'I believe in law' | Piyush Jain's Son Confronted By Republic TV Amid Raids At Kanpur Trader's Properties

5-day raids saw the 'biggest' seizure in the history of the CBDT , where Rs 196 cr in cash was recovered from Piyush Jain's properties acros Kanpur & Kannauj

Republic World/ANI


Upon the conclusion of what authorities claim to be the 'biggest cash recovery' in raids at Uttar Pradesh-based businessman Piyush Jain's properties, Republic TV confronted the son of the accused. Seemingly reluctant to speak with the media, Pratyush Jain stopped them from entering the premises wherein incessant raids were conducted by the Directorate General of Goods and Services Tax Intelligence (DGGI) and Income Tax officials. 

After being asked about the 'situation' inside Piyush Jain's properties, his son said, "I believe in law and if we are innocent we shouldn't (answer the queries)."

He reiterated, "No, I don't want to say anything. Sorry for the inconvenience and I can't let you enter."

'Biggest cash recovery' in I-T raids at Uttar Pradesh-based Piyush Jain's properties

Over the last five days, incessant raids were carried out by several Central agencies at businessman Piyush Jain's properties. The 5-day raids saw the 'biggest' seizure in the history of the Central Board Of Direct Taxes, where Rs 196 crore in cash was recovered from his residences and factory at Kanpur (177 crores) and Kannauj (19 crores). Apart from the hefty cash, the DGGI recovered 23 kg gold (worth Rs 6 crore) and silver along with unaccounted raw material such as 600 kgs of sandalwood oil and finished products (perfumes) (worth 6 crores), from Jain's premises in Kanpur and Kannauj.

Uttar Pradesh businessman Piyush Jain admits to tax evasion

On December 29, the DGCI concluded the prolonged raids while Piyush Jain was arrested on Sunday under Section 67 of the CGST Act after the recovery of unaccounted cash, gold and sandalwood. Further, the authorities enumerated that Jain has accepted that the cash recovered from the residential premises is related to the sale of goods without payment of GST. Presently, the accused is remanded to 14 days of judicial custody by a Kanpur court. 

First Published: