Piyush Jain, UP Businessman Who Rides Scooter, Hoarded Over Rs 250 Crore
New Delhi:
Businessman Piyush Jain travels in Kannauj, his place of origin, on his previous scooter. There are two automobiles parked out of doors his space – a Qualis and a Maruti. However the central businesses final week came upon that the Kanpur-based fragrance maker had hoarded over Rs 250 crore.
Jain has been arrested for evasion of Items and Products and services Tax (GST). Officers discovered over Rs 250 crore in money at his house and manufacturing unit in Kannauj. Footage of a raid at his premises, appearing officers the usage of observe counting machines to depend the lots of foreign money notes went viral final week.
The cash used to be allegedly connected to the dispatch of products by means of pretend invoices and with out e-way expenses by way of a items transporter.
Piyush Jain discovered the artwork of constructing perfumes and safe to eat essences from him father, who’s a chemist.
Jain began the fragrance industry in Kanpur, and has expanded it to a number of portions of the rustic within the final 15 years. He now has a booming industry in Mumbai and Gujarat.
Because the industry flourished, Jain and his brother Ambrish grew to become their Kannauj space right into a 700 sq. backyard mansion. However the locals say that each time he involves the city, Jain is observed on his previous scooter and turns out to guide a simplistic existence.
In conjunction with the money, government additionally seized gold, silver, unaccounted sandalwood oil, perfumes value crores from Jain’s place of dwelling and manufacturing unit.
After his arrest, Jain is predicted to be taken to Ahmedabad for wondering.
