Kanpur Businessman Piyush Jain Arrested, More Than Rs 250 Crore Cash Recovered

Kanpur, December 26 (TNA) Businessman Piyush Jain whose house and other establishments were raided by the GST and Income Tax department last week was arrested on Sunday night. According to reports, jewellery and cash worth more than Rs 250 crore has been recovered from him. And this is likely to be the biggest seizure of all times at any individuals place, an official said.

Jain is an eminent perfume maker of Uttar Pradesh. He has been arrested under section 69 of the CGST Act. When the DGGI had raided him last week, the tax sleuths were in for a shock with the amount of black money that was in front of them. Many currency counting machines had to be requisitioned by taxmen and it took more than two days to count the seizure.